Dr. Reddy's to acquire product portfolio from TEVA for US market

For $350 million in cash a

Dr Reddys Laboratories has entered into definitive agreement with Teva Pharmaceutical Industries and an affiliate of Allergan plc to acquire a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the US for $350 million in cash at closing.

The acquired portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan's generic business. The acquisition of these ANDAs is also contingent on the closing of the Teva/ Allergan generics transaction and approval by the US Federal Trade Commission of Dr Reddy's as a buyer.

The portfolio being acquired is a mix of filed ANDAs pending approval and an approved ANDA, and comprised of complex generic products across diverse dosage forms. The combined sales of the branded version of the products in the US is approximately $3.5 billion MAT for the most recent twelve months ending April 2016 according to IMS Health.

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