Senores Prescribed drugs Ltd introduced on Tuesday the acquisition of 14 Abbreviated New Drug Purposes (ANDAs) from Dr Reddy’s Laboratories via its wholly owned US subsidiary.
The shares of Senores Prescribed drugs Ltd closed at ₹564.10 on Tuesday up by ₹33.60 or 6.33 per cent on the NSE.
The acquisition package deal contains 13 USFDA-approved purposes and one pending approval. In accordance with the corporate, the portfolio represents a market alternative of roughly $421 million primarily based on IQVIA knowledge and $1.13 billion in accordance with Symphony knowledge.
Proceeds from IPO
Senores will finance the acquisition utilizing proceeds from its current preliminary public providing, aligning with the goals outlined in its Purple Herring Prospectus.
“The portfolio consists of managed substances and normal class merchandise,” stated Managing Director Swapnil Shah. “These merchandise will be distributed via a number of channels, with massive necessities in authorities, retail and specialty clinics.”
The acquired merchandise span varied therapeutic areas and can considerably increase Senores’ choices within the US market, with potential worth in different regulated and semi-regulated markets globally.
Senores Prescribed drugs operates two formulation manufacturing amenities — an FDA-approved plant in Atlanta and a WHO-GMP accepted facility in Ahmedabad, India — together with two API manufacturing amenities close to Ahmedabad. The corporate’s present portfolio contains 27 ANDAs and 21 CMO/CDMO business merchandise accepted for US distribution.
