This Indian company, which is rapidly expanding its business in America, acquired a business of $ 105 million.

New Delhi, Business Desk. Dr Reddy’s Laboratories Ltd on Monday said its subsidiary has entered into an agreement with Australia’s Mayne Pharma Group Ltd to acquire its US generic prescription product portfolio for USD 105 million.

The press release issued by Dr. Reddy’s said that the portfolio consists of 45 commercial products, four pipeline products and 40 approved non-marketed products. The company’s generic products are targeted at women.

Payment will be made in two installments

Dr. Reddy’s will pay Mayne Pharma $90 million in cash for the acquisition. And up to $15 million will be paid based on inventory and liabilities as of the closing date.

Let us tell you, the generic prescription product portfolio sold by Mayne Pharma had revenue of $ 111 million in June 2022. The company’s best-selling products include hormonal vaginal rings, birth control pills, and heart medications.

Mark Kikuchi, CEO of Dr. Reddy’s North American business, said, “This important acquisition provides our North America business with a significant foothold in the women’s health space. This acquisition is in line with our strategy to grow our portfolio. We are now well positioned to successfully integrate the portfolio and grow the business.