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DRL to sell neurology branded products to Upsher-Smith Laboratories

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Dr Reddy’s would sell its US and select territory rights for ZEMBRACE SYMTOUCH and TOSYMRATM, which are commercialized through its wholly-owned subsidiary, Promius Pharma

Dr Reddy’s Laboratories (DRL) announced that it has entered into a definitive asset purchase agreement with Upsher-Smith Laboratories, LLC (Upsher-Smith), pursuant to which Dr Reddy’s would sell its US and select territory rights for ZEMBRACE SYMTOUCH (sumatriptan injection) 3 mg and TOSYMRATM (sumatriptan nasal spray) 10 mg, (formerly referred to as “DFN-02”), which are commercialized through its wholly-owned subsidiary, Promius Pharma, LLC.

According to Dr Reddy’s, under the agreement, the company will receive US $70 million as upfront consideration, US $40.5 million in near term milestones and additional financial considerations including, existing contractual obligation and inventory.

Subsequently, Dr Reddy’s will receive sales-based royalties on a quarterly basis.

The closing of the transaction is subject to various customary closing conditions including antitrust review under the Hart-Scott-Rodino Act.

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