Dr. Reddy's Laboratories SA has entered into an agreement to acquire US retail generics portfolio of Mayne Pharma Group Limited for approximately $110 million on February 27, 2023. Under the terms of the agreement, Dr. Reddy's will acquire the portfolio for an upfront payment of approximately $90 million in cash, contingent payments of up to $15 million plus consideration towards inventory and credits for certain accrued channel liabilities to be determined on the closing date. For fiscal year ending June 2022, this portfolio generated $111 million in revenues. Completion of the transaction is subject to customary closing conditions including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), as amended. As of April 3, 2023, the 30-day waiting period under the Hart–Scott–Rodino Antitrust Improvements Act of 1976 (HSR) expired without comment or objection from either the Federal Trade Commission (FTC) or the Department of Justice (DOJ). T. The transaction is expected to close by the end of fiscal year 2023.

Dr. Reddy's Laboratories SA completed the acquisition of US retail generics portfolio of Mayne Pharma Group Limited on April 6, 2023.