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