bullish

Dr. Reddy's Laboratories (DRRD IN): New Acquisition to Bolster US Generic Product Portfolio

295 Views28 Feb 2023 19:52
SUMMARY
  • Dr. Reddy's Laboratories (DRRD IN) entered into a definitive agreement to acquire the U.S. retail generic prescription product portfolio of Mayne Pharma (MYX AU) for $105M.
  • The deal will add approximately 85 approved generic products and four pipeline products. For the fiscal year ending June 30, 2022, this portfolio generated revenue of $111M.
  • Considering the revenue potential, the acquisition price seems to be reasonable. Being a high margin and limited competition portfolio, the acquisition will be earnings accretive for Dr. Reddy’s.
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