19 June 2020 | News
The acquisition follows a planned period of significant growth and investment for Naari
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Naari Pharma Private Limited has entered into a definitive asset purchase agreement to acquire 10 Abbreviated New Drug Applications (ANDAs) for the U.S. market from Intas Pharmaceuticals Ltd.
The portfolio acquired comprises eight U.S. FDA approved ANDAs and two products pending approval. It includes generic products in female hormones which will be manufactured at Naari's dedicated female hormone facility in India and commercialized over the next 24 months.
Naari is a vertically integrated global women's health pharmaceutical business focused on hormones and has development and manufacturing capabilities across intermediates, active pharmaceutical ingredients, and finished dosage forms (FDFs).
Prithi S Kochhar, Co-Founder and CEO of Naari, said: "This is great news for us and another milestone in our journey towards becoming a leading global player in the field of women's health. This is an important step towards developing our U.S. portfolio.
"With these newly acquired ANDAs we now have market access of USD 900 million as per IQVIA data."
The acquisition follows a planned period of significant growth and investment for Naari. In October 2019 Naari acquired three ANDAs from OC Pharm in the U.S. and in February 2020 the company announced that it had received an equity investment of USD 17.5 million from Ascent Capital, a leading India-focused growth capital provider.
Prithi S Kochhar continued: "Our journey into the U.S. market is well charted and we expect sales and a positive growth trajectory beginning in the next 12 months.
"We now have all the key enablers in place towards achieving our revenue target of USD 100 million in the next 4-5 years, which should make us one of the top women's health companies in the world and enable us to continue providing vital products to support women's health across the globe."
With a presence in more than 50 countries and over 30 hormonal generics currently available or under development, Naari has one of the most comprehensive hormonal portfolios in the world.