On Friday, Dr. Reddy’s made the announcement that it had completed the purchase of a portfolio of branded and generic injectable pharmaceuticals from Eton Pharmaceuticals, which is situated in Deer Park, Illinois. In accordance with the terms of the agreement, Dr. Reddy’s will make an initial cash payment of $5 million, in addition to potential future payments of up to $45 million.
According to a statement released by the firm, the purchase lends support to Dr. Reddy’s efforts to expedite and increase the availability of cheap drugs for patients.
The portfolio comprises the NDAs for the injections Biorphen (phenylephrine hydrochloride) and Rezipres (ephedrine hydrochloride) with nine different combinations of strengths and presentations, as well as one first-to-file authorised ANDA for cysteine hydrochloride for the United States market.
There is now just one dosage strength of Biorphen and Rezipres that may be purchased commercially in the United States. The purchase will supplement Dr. Reddy’s institutional business in the United States with injectable medications that have low market competition. According to IQVIA, the total addressable market for these items in the United States has a value of around 174 million dollars for the calendar year that will finish in April of 2022.
“Long before the COVID-19 epidemic, there have been worries regarding hospitals’ and health systems’ availability to certain essential care supplies. “This acquisition provides our North America organisation with a foundational footprint to help address products that are not always readily available for patients,” says Marc Kikuchi, CEO of Dr. Reddy’s North America Generics. “[T]his acquisition will help address products that are not always readily available for patients.” Kikuchi stated that “for these and many more reasons, I believe we are well-positioned to integrate the portfolio and develop the business.” He also added that “we are well-positioned to grow the business.”