Zydus Healthcare estimates that the market size of the two ANDAs put together is nearly US$ 200 million
Zydus Healthcare, a subsidiary of Cadila Healthcare, today said it has acquired two Abbreviated New Drug Applications (ANDAs) from Teva Pharmaceutical in the US for an undisclosed sum.
An ANDA contains data which when submitted to FDA's Center for Drug Evaluation and Research, Office of Generic Drugs, provides for the review and ultimate approval of a generic drug product.
"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," Cadila Healthcare said in a Bombay Stock Exchange (BSE) filing.
It further said: "The acquisition of these ANDAs is contingent on the closing of the Teva-Allergan Genercis transaction and approval by the US Federal Trade Commission. Financial details of the transaction are undisclosed."
The company said these ANDAs have been acquired by its 100 per cent subsidiary, Zydus Worldwide DMCC, and will be financed through the group's internal accruals.
Giving details about the ANDAs, the company said: "The acquired portfolio comprises an ANDA which is already commercialised and one pipeline ANDA which is a transdermal patch. The estimated market size of the two ANDAs put together is nearly US$ 200 million."
Shares of Cadila Healthcare were trading 1.09 per cent higher at Rs 316.75 on BSE.