Dr. Reddy's bolsters US generics business with $105M deal to buy Mayne Pharma assets
More generic products will soon join the fold at Dr. Reddy’s Laboratories as the drugmaker has agreed to spend up to $105 million to purchase Mayne Pharma’s U.S. copycats portfolio.
The deal includes 45 commercially available products, four in the pipeline and 40 approved but unmarketed drugs, Dr. Reddy’s said in a Monday release.
Under the deal, Dr. Reddy’s will pay Australia-based Mayne $90 million in cash plus contingent payments of up to $15 million.
Mayne Pharma, for its part, just got its hands on TherapeuticsMD’s products in a $153 million deal before the women’s heathcare company shut its doors. Those products will remain Mayne's. Some of the products it will hand over to Dr. Reddy's include a birth control pill and a hormonal vaginal ring.
The Hyderabad, Telangana India-based company hopes the deal will “compliment” its North American organization and give it a “significant foothold” in the women’s healthcare space, Marc Kikuchi, CEO of Dr. Reddy’s North America business, said in a statement.
The Mayne products are a collection of bits picked up from other drugmakers. In 2016, Mayne snapped up 42 drugs from Teva and Allergan as the two were looking to offload assets.
About Mayne Pharma
Mayne Pharma is an ASX-listed specialty pharmaceutical company focused on commercializing novel and generic pharmaceuticals. Mayne Pharma has a 40-year track record of innovation and success in developing oral drug delivery systems. These technologies have been successfully commercialized in numerous products that continue to be marketed around the world. With roots traced to FH Faulding and Co, Mayne Pharma one of the largest and most prominent public companies headquartered in South Australia. A technology driven company, Mayne Pharma has expertise in complex oral and topical dose forms including highly potent compounds, modified release products and poorly soluble compounds. The business is supported by over 400 staff globally.
Feb 28, 2023
