Based on a recent news report, it was known for a fact that Salisbury, Australia, based Mayne Pharma Group’s US generic prescription product portfolio has been acquired by Dr Reddy’s Laboratories. The news was published in India’s leading business fortnightly, Express Pharma.
The recently acquired portfolio includes nearly 45 commercial products, 4 pipeline products, and 40 approved non-marketed products. The approved high-value generic products are focused on women’s health and include a birth control pill, a hormonal vaginal ring, and a cardiovascular product.
Mayne Pharma reported total revenue amounting to $111 million for the acquired portfolio for the financial period that ended in June 30, 2022. The agreement states that Dr Reddy’s will acquire this portfolio for an advance payment of nearly $90 million in cash. Rest of the portfolio would consist of contingent payments of approximately $15 million and other considerations towards listing and credits for some accrued channel liability that would be determined on the closing date. The closing of the transaction is based on applicable waiting period under the amended Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act).
This take over of charge will aid Dr Reddy’s US retail prescription pharma business by complementing it with limited competition products. It will help in supporting Dr Reddy’s vision to make medications affordable to the patients.
Source: Dr Reddy’s to acquire Mayne Pharma’s US generic prescription product portfolio. Express Pharma. 27 February, 2023.
https://www.expresspharma.in/dr-reddys-to-acquire-mayne-pharmas-us-generic-prescription-product-portfolio
