Dr. Reddy’s Laboratories Ltd on Friday announced that it has acquired a portfolio of branded and generic injectable products from Deer Park, Illinois, based Eton Pharmaceuticals, Inc.
According to the company’s press statement, 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 U.S.
One strength each of Biorphen® and Rezipres® are currently commercially available in the U.S. The acquisition will complement Dr. Reddy’s U.S. institutional business with limited competition in injectable products, the company stated.
Under the terms of the agreement, Dr. Reddy’s acquired the Eton portfolio for an upfront payment of approximately $5 million in cash, plus contingent payments of up to $45 million. The acquisition supports Dr. Reddy’s efforts to accelerate and expand affordable medications for patients.
“Long before the COVID-19 pandemic, there have been concerns about access to some critical care products for hospitals and health systems. This acquisition provides our North American organization with a foundational footprint to help address products that are not always readily available for patients. For these and many other reasons, I believe we are well-positioned to integrate the portfolio and grow the business,” says Marc Kikuchi, Chief Executive Officer, North America Generics, Dr. Reddy’s.
Meanwhile, the value of the total addressable market for these products in the U.S. is approximately $174 million for the calendar year ending in April 2022 according to IQVIA.