Updated on 22 June 2016
The financial details of the transaction are undisclosed.
Zydus has strengthened its US portfolio with the acquisition of two ANDAs from Teva that are being divested by Teva as a pre-condition to its acquisition of Allergan's generic business.
The acquisition of these ANDAs is contingent on the closing of the Teva-Allergan Generics transaction and approval by the US Federal Trade Commission. The financial details of the transaction are undisclosed.
The company said that these ANDAs have been acquired by its 100% subsidiary, Zydus Worldwide DMCC and the transaction will be financed through the group's internal accruals. The acquired portfolio comprises an ANDA which is already commercialized and one pipeline ANDA which is a transdermal patch. The estimated market size of the two ANDAs put together is nearly US$ 200 Mio.
Speaking on the development, Mr Pankaj R Patel, chairman and managing director of the Zydus Group said that this is an important acquisition which will help Zydus to expand its existing portfolio in the US and strengthen its pipeline of complex generic products. Zydus has made significant investments in the transdermal manufacturing technology and had also acquired a transdermal manufacturing facility in the US, a few years ago. He said, "Zydus is upbeat about the growth potential in the US and will continue to pursue more inorganic opportunities in the US market."