Dr. Reddy’s Struggle for Women’s Health Through Mayne Pharma’s U.S. Genric Prescription Deal

  • Dr. Reddy’s Laboratories Ltd (NYSE: RDY) has agreed to acquire The Australian-based U.S. generic prescription product range Mayne Pharma Group Limited (OTC: MAYND) (OTC: MAYNF) (OTC: MYPHY).

  • The terms of the agreement stipulate that Dr. Reddy’s will acquire the portfolio for an upfront cash payment of approximately $90million, and subsequent contingent payments of up $15 million.

  • The closing date will determine the credit and inventory allowances for certain channel liabilities.

  • The portfolio comprises approximately 45 non-marketed, commercially available products and four pipeline products. There are also 40 approved products that have not been marketed, including many generic products focused on women’s health.

  • Mayne Pharma reported total revenue at $111 Million for FY ended June 30, 2022.

  • A hormonal vaginal band, a birth control pill and a cardiovascular product are approved.

  • Dr. Reddy will now have a U.S.-based retail prescription drug business that includes limited competition products.

  • Marc Kikuchi (CEO, North America business), Dr. Reddy’s stated, “This important acquisition gives our North America company a substantial foothold in women’s healthcare.”

  • Erez Israeli (CEO, Dr. Reddy’s) stated, “The U.S. is always been an important marketplace for us. We are pleased with the Mayne Pharma product portfolio. It is strategic for our growth goals. This portfolio contains products with high entry barriers. The portfolio also includes products that are focused on women’s healthcare.

  • Price Action RDY shares were lower at $54.01 by 0.29% on Monday’s last check.

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This article Dr. Reddy’s Seeks Gaining Foothold In Women’s Health Via Mayne Pharma’s U.S. Generic Prescription Deal Original version: Benzinga.com


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