HYDERABAD, India & PRINCETON, N.J.–(BUSINESS WIRE)–Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY,
along with its subsidiaries together referred to as “Dr. Reddy’s”)
announced today that it has entered into a definitive agreement to
acquire a portfolio of 42 approved, non-marketed Abbreviated New Drug
Applications (ANDAs) in the U.S.
The portfolio includes more than 30 generic injectable products. These
products will require to be technology transferred and could be launched
within the next one to two years. The value of total addressable market
for these products in the U.S. is approximately $645 million for the
calendar year ending in December 2018 according to IQVIA.
Erez Israeli, Chief Operating Officer of Dr. Reddy’s Laboratories,
commented, “The acquisition is in line with our stated strategy to
significantly enhance our portfolio in our chosen growth markets. This
transaction will help augment our injectables product portfolio in the
U.S. market and globally.”
RDY-0419-244
About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE: 500124,
NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical company,
committed to providing affordable and innovative medicines for healthier
lives. Through its three businesses – Pharmaceutical Services & Active
Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s
offers a portfolio of products and services including APIs, custom
pharmaceutical services, generics, biosimilars and differentiated
formulations. Our major therapeutic areas of focus are gastrointestinal,
cardiovascular, diabetology, oncology, pain management and dermatology.
Dr. Reddy’s operates in markets across the globe. Our major markets
include – USA, India, Russia & CIS countries, and Europe. For more
information, log on to: www.drreddys.com
Disclaimer: This press release may include statements of future
expectations and other forward-looking statements that are based on the
management’s current views and assumptions and involve known or unknown
risks and uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in such
statements. In addition to statements which are forward-looking by
reason of context, the words “may”, “will”, “should”, “expects”,
“plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”,
“potential”, or “continue” and similar expressions identify
forward-looking statements. Actual results, performance or events may
differ materially from those in such statements due to without
limitation, (i) general economic conditions such as performance of
financial markets, credit defaults , currency exchange rates , interest
rates , persistency levels and frequency / severity of insured loss
events (ii) mortality and morbidity levels and trends, (iii) changing
levels of competition and general competitive factors, (iv) changes in
laws and regulations and in the policies of central banks and/or
governments, (v) the impact of acquisitions or reorganization ,
including related integration issues.
The company assumes no obligation to update any information contained
herein.
Contacts
INVESTOR RELATIONS
AMIT AGARWAL
amita@drreddys.com
(Ph:
+91-40-49002135)
MEDIA RELATIONS
MITALI SARKAR
mitali.sarkar@drreddys.com
(Ph:
+91-40- 49002121)