Senores Prescribed drugs Ltd introduced on Tuesday the acquisition of 14 Abbreviated New Drug Purposes (ANDAs) from Dr Reddy’s Laboratories by 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 line with the corporate, the portfolio represents a market alternative of roughly $421 million based mostly on IQVIA knowledge and $1.13 billion in response to 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 Crimson Herring Prospectus.
“The portfolio consists of managed substances and basic class merchandise,” stated Managing Director Swapnil Shah. “These merchandise might be distributed by a number of channels, with giant necessities in authorities, retail and specialty clinics.”
The acquired merchandise span varied therapeutic areas and can considerably develop Senores’ choices within the US market, with potential worth in different regulated and semi-regulated markets globally.
Senores Prescribed drugs operates two formulation manufacturing services — an FDA-approved plant in Atlanta and a WHO-GMP permitted facility in Ahmedabad, India — together with two API manufacturing services close to Ahmedabad. The corporate’s present portfolio contains 27 ANDAs and 21 CMO/CDMO industrial merchandise permitted for US distribution.
