Shares of Senores Pharmaceuticals Ltd skyrocketed 8% on 4 March after the company announced that they had acquired 14 Abbreviated New Drug Applications (ANDAs) from Dr. Reddy’s Laboratories through its subsidiary Senores Pharmaceuticals, Inc.
In its regulatory filing, the company said, “Senores Pharmaceuticals Limited (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 acquired portfolio includes 13 Abbreviated New Drug Applications (ANDAs) already approved by the U.S. Food and Drug Administration (USFDA) and one ANDA currently awaiting approval.
According to IQVIA, the market potential for these acquired ANDAs in the U.S. is approximately $421 million (MAT December 2024), while data from Symphony estimates it at $1.13 billion (MAT September 2024).
The acquisition will be financed using proceeds from the Initial Public Offering (IPO) raised by SPL, aligning with the objectives outlined in the Red Herring Prospectus.
Senores Pharmaceuticals is a global, research-focused pharmaceutical company specializing in the development and manufacturing of a broad range of pharmaceutical products for the U.S., Canada, and other regulated and emerging markets across multiple therapeutic areas and dosage forms.
The company’s current portfolio consists of 27 ANDAs and 21 CMO/CDMO commercial products approved for distribution in the U.S. Additionally, Senores is actively involved in developing and producing complex generics certified by global regulatory authorities, supplying generic drugs to over 40 countries.
Senores’ manufacturing facility in Chhatral is approved by regulatory agencies from more than 10 countries, with over 260 registered products and 530 product applications for emerging markets. The company also manufactures critical care injectables and Active Pharmaceutical Ingredients (APIs).
At 3:30 pm, the shares of Senora Pharma closed 6.03% higher at Rs 562.50 on NSE.
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