Dr Reddy's acquires Mayne Pharma's USA prescription portfolio for $105 mn

Dr Reddy’s Laboratories (DRL) has entered into a definitive agreement to acquire the US generic prescription product portfolio of Australia-based Mayne Pharma Group for $90 million (Rs 738 crore) upfront and contingent payments of up to $15 million (Rs 123 crore).

The acquisition will complement DRL’s US retail prescription pharmaceutical business with limited competition products. The value of the total addressable market for the pipeline and approved non-marketed products in the US is approximately $3.6 billion for the calendar year ending December 2022, according to IQVIA.

DRL’s stock was down almost 3 percent in morning trade.

DRL SA, a wholly-owned