Senores Pharma up 7% on acquiring 14 ANDAs from Dr. Reddy's Laboratories

Senores Pharmaceuticals shares gained 7 per cent in trade on BSE, logging an intraday high at Rs 567.65 per share. The stock advanced after the company through its subsidiary Senores Pharmaceuticals, Inc., USA, acquired 14 Abbreviated New Drug Applications (ANDAs) from Dr. Reddy’s Laboratories.

 

Around 2:27 PM, Senores Pharma share price was up 6.99 per cent at Rs 567.5 per share on BSE. In comparison, the BSE Sensex was down 0.16 per cent at 72,969.97. The market capitalisation of the company stood at Rs 2,613.54 crore. The 52-week high of the stock was at Rs 644.4 per share and the 52-week low was at Rs 440 per share.

 

"Senores Pharmaceuticals Limited (SPL), through its wholly-owned subsidiary Senores Pharmaceuticals, Inc., USA (SPI), has signed agreements today to acquire a basket of 14 Abbreviated New Drug Applications (‘ANDAs’) from Dr. Reddy’s Laboratories and its applicable affiliates," the filing read.   READ: Suzlon shines: Shares rise 4% on securing deals with Jindal Renewables

 

It added: The basket acquired, comprises of 13 ANDAs, which are approved by the US Food anf Drugs Administration (US FDA) and 1 ANDA, which is pending approval from the USFDA. 

 

The addressable opportunity of the acquired ANDAs in the USA is approx. $421 Million (MAT December 2024)* as per IQVIA and $1.13 Billion (MAT September 2024) as per the specialty data aggregator Symphony.

 

The acquisition will be funded through the Initial Public Offer (“IPO”) proceeds raised by SPL. This is in line with the Objects of the IPO stated in the Red Herring Prospectus. 

 

Senores Pharmaceuticals is a global, research-driven pharmaceutical company engaged in developing and manufacturing a wide range of pharmaceutical products predominantly for the US, Canada, and other regulated and emerging markets across various therapeutic areas and dosage forms. The companies’ current portfolio includes 27 ANDA and 21 CMO/CDMO commercial products that are permitted for distribution in the USA.   READ: HBL Engineering gains 5% on bagging Rs 148 crore order from Bhopal Division

 

Senores is also engaged in the development and manufacturing of complex generics certified by global food and drugs authorities and delivers generic drugs for emerging markets catering to more than 40 countries. 

 

The company has approval from regulatory bodies of more than 10 countries for its manufacturing facility in Chhatral for emerging markets with over 260 product registrations and 530 product applications. Senores also manufactures critical care injectables and Active Pharmaceutical Ingredients (API).