Dr Reddy’s sells 14-drug portfolio to Senores Pharma for US market expansion

Dr Reddy’s Laboratories Ltd has entered into an agreement with Ahmedabad-based Senores Pharmaceuticals Ltd to sell a portfolio of 14 Abbreviated New Drug Applications (ANDAs) for an undisclosed amount, Senores Pharma said in a press release on Tuesday.

The acquired portfolio consists of 13 ANDAs already approved by the US Food and Drug Administration (FDA) and one pending approval. According to Senores, the total addressable market for these ANDAs in the US is estimated between $421 million and $1.13 billion.

Senores plans to fund the acquisition through proceeds from its IPO, which raised ₹5.82 billion in December.

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The company stated that the acquired portfolio includes controlled substances and general category drugs, catering to demand across government, retail, and specialty clinics. Senores also sees strong growth potential in other regulated and semi-regulated markets worldwide.

On Tuesday, Dr Reddy’s shares closed nearly flat at ₹11,120.15 on the National Stock Exchange (NSE), while Senores Pharmaceuticals surged 6.03% to ₹562.50 following the announcement.