Senores Pharmaceuticals Ltd announced on Tuesday the acquisition of 14 Abbreviated New Drug Applications (ANDAs) from Dr Reddy’s Laboratories through its wholly owned US subsidiary.
The shares of Senores Pharmaceuticals Ltd closed at ₹564.10 on Tuesday up by ₹33.60 or 6.33 per cent on the NSE.
The acquisition package includes 13 USFDA-approved applications and one pending approval. According to the company, the portfolio represents a market opportunity of approximately $421 million based on IQVIA data and $1.13 billion according to Symphony data.
Proceeds from IPO
Senores will finance the acquisition using proceeds from its recent initial public offering, aligning with the objectives outlined in its Red Herring Prospectus.
“The portfolio consists of controlled substances and general category products,” said Managing Director Swapnil Shah. “These products can be distributed through multiple channels, with large requirements in government, retail and specialty clinics.”
The acquired products span various therapeutic areas and will significantly expand Senores’ offerings in the US market, with potential value in other regulated and semi-regulated markets globally.
Senores Pharmaceuticals operates two formulation manufacturing facilities — an FDA-approved plant in Atlanta and a WHO-GMP approved facility in Ahmedabad, India — along with two API manufacturing facilities near Ahmedabad. The company’s current portfolio includes 27 ANDAs and 21 CMO/CDMO commercial products approved for US distribution.