Dr. Reddy’s Laboratories acquired a portfolio of branded and generic injectable products from Deer Park, Illinois-based Eton Pharmaceuticals Inc. for approximately $50 million, according to a Friday announcement.
The portfolio includes the Biorphen (phenylephrine hydrocholoride) Injection and Rezipres (ephedrine hydrochloride) Injection new drug applications, with nine separate combinations of strengths and presentations.
Under the terms of the agreement, Dr. Reddy’s, which has its U.S. headquarters in Princeton, acquired the Eton portfolio for an upfront payment of approximately $5 million in cash, plus contingent payments of up to $45 million. The acquisition supports Dr. Reddy’s efforts to accelerate and expand affordable medications for patients.
“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,” Marc Kikuchi, CEO, North America generics, Dr. Reddy’s, said. “For these and many other reasons, I believe we are well-positioned to integrate the portfolio and grow the business.”
According to North Carolina-based pharmaceutical company IQVIA, the total addressable market for these products in the U.S. is expected to be worth over $174 million for the fiscal year ending in April 2022.