Dr. Reddy's bolsters US generics business with $105M deal to buy Mayne Pharma assets

More generic products will soon join the fold at Dr. Reddy’s Laboratories as the drugmaker has agreed to spend up to $105 million to purchase Mayne Pharma’s U.S. copycats portfolio.

The deal includes 45 commercially available products, four in the pipeline and 40 approved but unmarketed drugs, Dr. Reddy’s said in a Monday release.

Under the deal, Dr. Reddy’s will pay Australia-based Mayne $90 million in cash plus contingent payments of up to $15 million.

Mayne Pharma, for its part, just got its hands on TherapeuticsMD’s products in a $153 million deal before the women’s heathcare company shut its doors. Those products will remain Mayne's. Some of the products it will hand over to Dr. Reddy's include a birth control pill and a hormonal vaginal ring. 

The Hyderabad, Telangana India-based company hopes the deal will “compliment” its North American organization and give it a “significant foothold” in the women’s healthcare space, Marc Kikuchi, CEO of Dr. Reddy’s North America business, said in a statement.

The Mayne products are a collection of bits picked up from other drugmakers. In 2016, Mayne snapped up 42 drugs from Teva and Allergan as the two were looking to offload assets.