Senores Pharmaceuticals will acquire fourteen Abbreviated New Drug Applications (ANDAs) from Dr. Reddy’s Laboratories. The company’s US subsidiary, Senores Pharmaceuticals, Inc., has signed agreements for the acquisition. While thirteen of these ANDAs have already received approval from the US Food and Drug Administration (USFDA), one remains pending. The financial details of the deal have not been disclosed.
Market Opportunity Valued at $421 Million
The acquired drug portfolio presents a significant market opportunity, with an estimated value of $421 million in the US, according to IQVIA.
IPO Funds to Finance the Acquisition
Senores Pharmaceuticals confirmed that it will fund this acquisition using proceeds from its initial public offering (IPO). The company emphasized that this move aligns with the objectives outlined in its Red Herring Prospectus.
Diverse Portfolio Spanning Multiple Therapeutic Areas
As reported by msn.com, Managing Director Swapnil Shah highlighted that the acquired molecules cover a broad range of therapeutic areas experiencing growing demand. The portfolio includes both controlled substances and general pharmaceutical products.
Expanding Reach Across Various Distribution Channels
Shah noted that these products cater to multiple distribution channels, including government programs, retail markets, and specialty clinics. He stated, “This portfolio significantly expands our product offerings in the US and holds substantial value in other regulated and semi-regulated markets”.
