Dr. Reddy’s Acquires Mayne Pharma Portfolio
The deal—potentially totaling upwards of $100 million—strengthens the company’s selection of US generic prescription products.
Dr. Reddy's Laboratories has entered into a definitive agreement to acquire the US generic prescription product portfolio of Australia-based Mayne Pharma Group Limited. The portfolio features 45 commercial products, four pipeline products, and 40 approved non-marketed products, with several of them revolving around women’s health. As of June 30, 2022, the portfolio reported revenue of $111 million.
Per the terms of the deal, Dr. Reddy’s will acquire the portfolio for an upfront payment of approximately $90 million in cash, contingent payments of up to $15 million, consideration towards inventory, and credits for certain accrued channel liabilities to be determined on the closing date.
“This important acquisition provides our North America organization with a significant foothold in the women’s health space,” says Marc Kikuchi, CEO of Dr. Reddy’s North America business. “The acquisition is in line with our stated strategy to enhance our portfolio in our chosen growth markets. We are well-positioned to successfully integrate the portfolio and grow the business.”
