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Cadila Pharmaceuticals Ltd (Zydus Cadila) on Monday said it has acquired two Abbreviated New Drug Applications (ANDAs) from Teva which would strengthen its US portfolio.
These ANDAs were being divested by Teva. It was a pre-condition to the Zydus’ acquisition of Allergan’s generic business.
The acquisition was contingent on closing of the Teva-Allergan Generics transaction and approval by the US Federal Trade Commission. Financial details of the transaction remained undisclosed, according to a company statement here.
The company said that these ANDAs have been acquired by its 100 per cent subsidiary, Zydus Worldwide DMCC and the transaction will be financed through the group's internal accruals.
The acquired portfolio comprises an ANDA which is already commercialised and one pipeline ANDA which is a transdermal patch. The estimated market size of the two ANDAs put together is nearly $200 million.
Pankaj R. Patel, Chairman and Managing Director of the Zydus Group, said that the acquisition will help Zydus to expand its existing portfolio in the US and strengthen its pipeline of complex generic products. Zydus has had acquired a transdermal manufacturing facility in the US a few years ago.
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