Dr Reddy's acquires a portfolio of 42 abbreviated new drug applications in US

New Delhi: Drug major Dr Reddy's Laboratories on Saturday said it has acquired a portfolio of 42 abbreviated new drug applications (ANDAs) in the US.

The company said it has entered into a definitive agreement to acquire yet to be marketed portfolio of ANDAs, including more than 30 generic injectable products, Dr Reddy's Laboratories said in a regulatory filing.

These products will require to be technology transferred and could be launched within the next one to two years, it added.

The value of total addressable market for these products in the US is around USD 645 million for the calendar year ending in December 2018.

"The acquisition is in line with our stated strategy to significantly enhance our portfolio in our chosen growth markets," Dr Reddy's Laboratories CEO Erez Israeli said.

This transaction will help augment company's injectables product portfolio in the US market and globally, he added.