The portfolio includes over 30 generic injectable products, which have to be technology-transferred and could be launched within next 1-2 years.
Dr Reddy’s Laboratories, along with its subsidiaries, has entered into a definitive agreement to acquire a portfolio of 42 approved, non-marketed Abbreviated New Drug Applications (ANDAs) in the US. However, the company did not disclose the other firm’s name and the nature of the agreement.
The portfolio includes over 30 generic injectable products. These products will require to be technology-transferred and could be launched within the next 1-2 years. The value of the total addressable market for these products in the US is approximately $645 million for the calendar year ended in December 2018, according to an IQVIA report.
In a release, chief operating officer (CEO) Erez Israeli said: “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 US market and globally.”
Research reports say that owing to the advantages offered by generic injectables, governments in various countries are supporting manufacturers. Additionally, an increase in drug shortages, especially in the US, along with patent expiry of a number of blockbuster drugs, aging population and rising prevalence of chronic as well as lifestyle diseases represent some of the other factors driving the growth of the market.
Incidentally, the Food and Drug Administration (FDA) in the US has been observed to approve sterile injectable drugs at a faster rate. While this could provide a good boost to the market, other factors such as snowballing focus on the research and development of anti-cancer drugs and increasing number of chronic and cardiovascular diseases are anticipated to set the tone for a valuable growth in the near future.