The acquisition provides foundational footprint in North America, says Kikuchi
Dr. Reddy’s Laboratories Ltd (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) has acquired a portfolio of branded and generic injectable products from Deer Park, Illinois based-Eton Pharmaceuticals, Inc. (NASDAQ: ETON).
The portfolio includes the Biorphen® (phenylephrine hydrocholoride) Injection and Rezipres® (ephedrine hydrochloride) Injection NDAs with nine separate combinations of strengths and presentations and one first-to-file approved ANDA for Cysteine Hydrochloride for the US one strength each of Biorphen® and Rezipres® are currently commercially available in the American market.
The acquisition will complement Dr. Reddy’s institutional business in the United States with limited competition injectable products.
Under the terms of the agreement, Dr. Reddy’s acquired the Eton portfolio for an upfront payment of approximately US$5 million in cash, plus contingent payments of up to US$45 million.
The acquisition supports Dr. Reddy’s efforts to accelerate and expand affordable medications for patients.
“This acquisition provides our North America organization with a foundational footprint to help address products that are not always readily available for patients,” says Marc Kikuchi, Chief Executive Officer, North America Generics, Dr. Reddy’s.
“For these and many other reasons, I believe we are well-positioned to integrate the portfolio and grow the business.
“Long before the COVID-19 pandemic, there have been concerns about access to some critical care products for hospitals and health systems.”
The value of total addressable market for these products in the US is approximately US$174 million for the calendar year ending in April 2022, according to IQVIA. fiinews.com
