Dr. Reddys Laboratories Announces Agreement to Acquire Mayne Pharma’s U.S. Generic Prescription Product Portfolio
Summary
Reddy’s”) today announced that it has entered into a definitive agreement to acquire the U.S. generic prescription product portfolio of Salisbury, Australia, based Mayne Pharma Group Limited (ASX: MYX). We are well-positioned to successfully integrate the portfolio and grow the business.” Erez Israeli, Chief Executive Officer, Dr. Reddy’s, said, “The U.S. has always been an important market for us. As a company with a history of deep science that has led to several industry firsts, we continue to plan ahead and invest in businesses of the future. Our current ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events, (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization, including related integration issues, and (vi) the susceptibility of our industry and the markets addressed by our, and our customers’, products and services to economic downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed under the "Risk Factors" and "Forward-Looking Statements" sections of our Annual Report on Form 20-F for the year ended March 31, 2022.