Senores Pharmaceuticals (SPL), through its wholly-owned subsidiary Senores Pharmaceuticals, Inc., USA (SPI), has signed agreements today to acquire a basket of 14 Abbreviated New Drug Applications (ANDAs) from Dr. Reddy's Laboratories and its applicable affiliates.
The basket acquired, comprises of 13 ANDAs, which are approved by the USFDA and 1 ANDA, which is pending approval from the USFDA.
The addressable opportunity of the acquired ANDAs in the USA is approx. USD 421 Million (MAT December 2024) as per IQVIA and
approx USD 1.13 Billion (MAT September 2024)# as per the specialty data aggregator Symphony.
The acquisition will be funded through the Initial Public Offer (IPO) proceeds raised by SPL. This is in line with the Objects of the IPO stated in the Red Herring Prospectus.