Dr Reddy’s Laboratories (DRL) is ramping up its US business with the acquisition of eight drugs from the world’s largest generic drug-maker Teva and an affiliate of Allergan for $350 million (over Rs 2,300 crore).
This includes seven products which are pending US Food and Drugs Administration approval (abbreviated new drug application) and an approved product spread across diverse dosage forms. The combined sales of the branded versions of the products in the US is about $3.5 billion for the year ending April 2016, DRL said in a statement on Saturday. US business contributes to about half of DRL’s revenues. Like other top Indian pharma companies, its US business has been under pressure because of price erosion and supply channel consolidation in the US. The acquired portfolio comprises complex generics products which have limited competition and thus will boost revenue and profit margins.