 "Zydus acquires two drugs from Teva to strengthen US portfolio")
To strengthen its US portfolio, Zydus Cadila has agreed to acquire Teva’s two abbreviated new drug applications (ANDAs), which are being divested by Teva as a pre-condition to its acquisition of Allergan’s generic business. The acquisition of these ANDAs is contingent on the closing of the Teva-Allergan Generics transaction and approval by the US Federal Trade Commission. While the financial details of the transaction are undisclosed, the total market size of the two ANDAs is estimated at nearly $ 200 million.
The acquisition, transacted through Zydus’ wholly owned subsidiary Zydus Worldwide DMCC, will be financed through the group's internal accruals. The acquired portfolio comprises an ANDA which is already commercialised and one pipeline ANDA which is a transdermal patch.
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According to Pankaj Patel, chairman and managing director, Zydus Group, this is an important acquisition which will help Zydus to expand its existing portfolio in the US and strengthen its pipeline of complex generic products. Zydus has made significant investments in the transdermal manufacturing technology and had also acquired a transdermal manufacturing facility in the US a few years ago. “Zydus is upbeat about the growth potential in the US and will continue to pursue more inorganic opportunities in the US market,” he added.
The acquisition, transacted through Zydus’ wholly owned subsidiary Zydus Worldwide DMCC, will be financed through the group's internal accruals. The acquired portfolio comprises an ANDA which is already commercialised and one pipeline ANDA which is a transdermal patch.
ALSO READ: Teva, Allergan Agree To Sell 8 Products To Dr Reddy's For $350 Mn
According to Pankaj Patel, chairman and managing director, Zydus Group, this is an important acquisition which will help Zydus to expand its existing portfolio in the US and strengthen its pipeline of complex generic products. Zydus has made significant investments in the transdermal manufacturing technology and had also acquired a transdermal manufacturing facility in the US a few years ago. “Zydus is upbeat about the growth potential in the US and will continue to pursue more inorganic opportunities in the US market,” he added.