This acquisition provides Natco with a front-end to engage with its customers directly in the USA which is the largest pharmaceutical market in the world.
Natco Pharma on Tuesday said its board has approved a proposal to acquire US-based Dash Pharmaceuticals LLC for a cash consideration of USD 18 million.
The company’s board has approved to acquire Dash Pharmaceuticals through one of its subsidiary units, the drugmaker said in a regulatory filing.
Natco, through its affiliates, is proposing to enter into an agreement to acquire Dash Pharmaceuticals subject to the satisfactory completion of due diligence, execution of definitive agreements, and compliance with statutory requirements, it added.
Dash is a front-end pharmaceutical sales, marketing and distribution entity based in New Jersey, USA, which is expected to have around net sales of USD 15 million for the year ending December 2021.
This acquisition will provide the company with a front-end to engage with its customers directly in the US, which is the largest pharmaceutical market in the world, Natco Pharma noted.
About Natco Pharma
Natco Pharma is an Indian multinational pharmaceutical company based in Hyderabad, which makes finished dosage formulations and active pharmaceutical ingredients. It is the market leader in branded oncology medicines in India, and among the country’s top three producers of hepatitis C drugs.
In 2003, Natco Pharma launched Veenat, a generic version of Novartis AG’s anti-cancer drug Glivec. It won the subsequent patent protection legal battle against Novartis in 2013. In 2012, Natco Pharma obtained compulsory license to produce a cheaper and generic version of Bayer’s anti-cancer medication Nexavar. In 2017, Natco Pharma launched a generic version of blood cancer drug Pomalidomide at a 98% discount to the drug’s selling price in the United States.
In the United States, it launched influenza medication Tamiflu with marketing partner Alvogen, multiple sclerosis treatment drug glatiramer acetate in partnership with Mylan, and hepatitis C drugs under a licensing agreement with Gilead Sciences
About Dash Pharma
Dash Pharmaceuticals is committed to providing high-quality products that are affordable and accessible to patients. The company is developing a full line of specialty pharmaceuticals, nutritional and dietary supplements, vitamins and topicals across multiple dosage forms for distribution under the “Dash Pharmaceuticals” label.