Senores Pharma Acquires 14 ANDAs from Dr. Reddy's for US Market Expansion

Senores Pharmaceuticals, based out of Gujarat, signed a memorandum of understanding with Dr Reddy's Laboratories regarding the sale of 14 Abbreviated New Drug Applications (ANDAs) for an undisclosed sum on Tuesday.

According to the company release, the acquisition is done through ongoing agreements with Dr Reddy's by Senores Pharmaceuticals, Inc. USA, a subsidiary of the company. Of the total, 13 ANDAs are USFDA approved while one is still pending approval.

The combined addressable market for these acquired ANDAs in the US is estimated at $421 million, according to IQVIA. The acquisition will be funded through the proceeds of Senores Pharmaceuticals' initial public offering (IPO), according to the company, which is in line with the objectives of its Red Herring Prospectus.

These molecules cover various therapeutic areas with rising demand, said Swapnil Shah, Managing Director of Senores Pharmaceuticals. This portfolio includes controlled substances and various products that fall in the general category. They are to be distributed through multiple channels, including government, retail pharmacies, and specialty clinics, with growing demand, he added.

Shah further added that, "This portfolio of products significantly increases our product offering in the US, and also it has a significant value in other regulated and semi-regulated markets".