Senores Prescription drugs Ltd introduced on Tuesday the acquisition of 14 Abbreviated New Drug Functions (ANDAs) from Dr Reddy’s Laboratories via its wholly owned US subsidiary.
The shares of Senores Prescription drugs Ltd closed at ₹564.10 on Tuesday up by ₹33.60 or 6.33 per cent on the NSE.
The acquisition package deal contains 13 USFDA-approved purposes and one pending approval. In accordance with the corporate, the portfolio represents a market alternative of roughly $421 million based mostly on IQVIA information and $1.13 billion in response to Symphony information.
Proceeds from IPO
Senores will finance the acquisition utilizing proceeds from its current preliminary public providing, aligning with the targets outlined in its Crimson Herring Prospectus.
“The portfolio consists of managed substances and normal class merchandise,” mentioned Managing Director Swapnil Shah. “These merchandise will be distributed via a number of channels, with giant necessities in authorities, retail and specialty clinics.”
The acquired merchandise span numerous therapeutic areas and can considerably develop Senores’ choices within the US market, with potential worth in different regulated and semi-regulated markets globally.
Senores Prescription drugs operates two formulation manufacturing services — an FDA-approved plant in Atlanta and a WHO-GMP permitted facility in Ahmedabad, India — together with two API manufacturing services close to Ahmedabad. The corporate’s present portfolio contains 27 ANDAs and 21 CMO/CDMO industrial merchandise permitted for US distribution.
