PE Fund Investments
Dr Reddy's to buy Mayne Pharma's US generic prescription product portfolio for $105-M
Hyderabad-headquartered, listed pharmaceutical company Dr. Reddy's Laboratories is to acquire Mayne Pharma's US generic prescription product portfolio for USD 105 million. Dr. Reddy's will make an upfront payment of USD 90 million in cash and contingent payments of USD 15 million. The target portfolio of Salisbury, Australia-based Mayne includes around 45 commercial products, four pipeline products and 40 approved non-marketed products, including a number of generic products focused on women's health. For the financial year ending June 30, 2022, Mayne Pharma reported revenues of USD 111 million (USD) for the acquired portfolio. The products in the portfolio include a hormonal vaginal ring, a birth control pill and a cardiovascular product. The acquisition is expected to complement Dr.Reddy's US retail prescription pharmaceutical business with limited competition products.
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