Hyderabad, June 24 Dr Reddy’s Laboratories has acquired a portfolio of branded and generic injectable products from Deer Park, Illinois-based Eton Pharmaceuticals, Inc.
The portfolio includes the Biorphen® (phenylephrine hydrocholoride) Injection and Rezipres® (ephedrine hydrochloride) Injection NDAs with nine separate combinations of strengths and presentations .
It also includes one first-to-file approved ANDA for Cysteine Hydrochloride for the US. One strength each of Biorphen® and Rezipres are currently commercially available in the U.S. The acquisition will complement Dr Reddy’s US institutional business with limited competition injectable products.
Terms of the pact
Under the terms of the agreement, Hyderabad-based Dr. Reddy’s acquired the Eton portfolio for an upfront payment of $5 million in cash, plus contingent payments of up to $45 million. The acquisition supports Dr Reddy’s efforts to accelerate and expand affordable medications for patients.
“Long before the Covid-19 pandemic, there have been concerns about access to some critical care products for hospitals and health systems. This acquisition provides our North America organisation with a foundational footprint to help address products that are not always readily available for patients,” Marc Kikuchi, Chief Executive Officer, North America Generics, Dr Reddy’s. said in a release.
“For these and many other reasons, I believe we are well-positioned to integrate the portfolio and grow the business,’‘ he added.
The value of total addressable market for these products in the US is approximately $174 million for the calendar year ending in April 2022 according to IQVIA, the company said.