Dr Reddy's Laboratories share price gained 2 percent intraday on July 27 after the company acquired an injectable product portfolio from Eton Pharma.
Dr. Reddy's Laboratories has acquired a portfolio of branded and generic injectable products from Deer Park, Illinois, based Eton Pharmaceuticals, Inc, company said in its press release.
The portfolio includes the Biorphen (phenylephrine hydrocholoride) Injection and Rezipres (ephedrine hydrochloride) Injection NDAs with nine separate combinations of strengths and presentations and one firstto-file approved ANDA for Cysteine Hydrochloride for the US.
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One strength each of Biorphen and Rezipres are currently commercially available in the US. The acquisition will complement Dr. Reddy's US institutional business with limited competition injectable products, it added.
Under the terms of the agreement, Dr. Reddy's acquired the Eton portfolio for an upfront payment of approximately $5 million in cash, plus contingent payments of up to $45 million.
"Long before the Covid-19 pandemic, there have been concerns about access to some critical care products for hospitals and health systems. This acquisition provides our North America organization with a foundational footprint to help address products that are not always readily available for patients," says Marc Kikuchi, Chief Executive Officer, North America Generics, Dr Reddy's.
At 10:15am, Dr Reddy’s Laboratories was quoting at Rs 4,364.40, up Rs 55.65, or 1.29 percent on the BSE.
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