Dr. Reddy’s sells 14 generic non-strategic assets to Senores Pharma for U.S. expansion

Dr. Reddy’s is selling a portfolio of 14 Abbreviated New Drug Applications to Ahmedabad-based Senores Pharmaceuticals, per a  CNBCTV18 report.

The acquired portfolio consists of 13 ANDAs already approved by the Food and Drug Administration and one pending approval. According to Senores, the market for these ANDAs in the United States is estimated between $421 million and $1.13 billion.

Senores plans to fund the acquisition through proceeds from its IPO, the report noted.

[Read more: Dr. Reddy’s, Senores Pharmaceuticals launch generic Stromectol]

The acquired portfolio includes controlled substances and general category drugs, catering to demand across government, retail and specialty clinics. Senores said it also sees strong growth potential in other regulated and semi-regulated markets worldwide, per the report.

A Dr. Reddy's spokesperson said the products are generic non-strategic assets.

[Read more: Impax, Dr. Reddy’s settle dispute over generic Rytary]