Deal of the Month
Dr. Reddy’s Laboratories (Dr. Reddy’s or DRL) has signed a
definitive agreement with Teva Pharmaceutical Industries (Teva) and an
affiliate of Allergan plc to acquire a portfolio of eight Abbreviated
New Drug Applications (ANDAs) in the U.S. for USD 350mn in cash.
Through this transaction DRL will acquire a portfolio of eight ANDAs
comprised of one approved and seven under review with FDA. Majority of
the molecules being acquired are complex products and/or expected to
have limited competition. These complex generics are across multiple
dosage forms with combined revenue of the branded versions at USD 3.5bn.
DRL is acquiring the portfolio on a cash-free, debt-free basis and
expects to finance the transaction using a combination of cash on hand
and available borrowings.
The acquisition is contingent on the closing of the Teva/Allergan
generics transaction and approval of DRL as a buyer by the U.S. Federal
Click here to learn more about this deal
Disclaimer: Aurum Equity Partners LLP was not a part of this deal in any way.