Naari completes acquisition of ANDAs from Intas Pharmaceuticals

Naari Pharma Private Limited, through its wholly owned subsidiary Naari Pte, 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.

Intas is a leading multinational pharmaceutical formulation development, manufacturing and marketing company with a presence in more than 85 countries worldwide. Estimated to be worth $4.25 billion, Intas is one of the most valued private pharmaceutical companies in India.

The company has set up a network of subsidiaries, under the name Accord Healthcare, for marketing and selling in the highly regulated markets of EU, U.S., Canada, South Africa, Australia, Asia Pacific as well as CIS & MENA regions. More than 69% of Intas’ revenue comes from its global business, particularly the highly regulated markets of EU and U.S., where it is known for its range of products in Oncology and other hospital-based therapeutic segments. Currently, Intas has over 10,000 product registrations worldwide and a strategic pipeline of 300+ high-value FTF/FTM, Biosimilars and NDDS products.

About Naari

Naari Pharma is a vertically integrated women’s health pharma business focused on hormones. The company has a comprehensive FDF product portfolio with a presence in over 50 countries and a shift towards high-value formulations and regulated markets. Naari has an experienced management team and an advisory board which consists of leading global experts in the field of women’s health with several successfully launched generics as well as NDAs with peak sales over a billion dollars.

About Intas Pharmaceuticals Ltd.

Intas is one of the leading multinational pharmaceutical formulation development, manufacturing, and marketing companies in the world. It has been growing at about 26% CAGR over the last five years and crossed the $1.9 billion mark in the past financial year.

Currently ranked 8th (as per IQVIA TSA MAT February 2020) in the Indian pharmaceutical market, it is also the largest privately owned Indian generic pharmaceutical company. While Intas has established leadership in key therapeutic segments like CNS, Cardiovascular, Diabetology, Gastroenterology, Urology and Oncology in India. Intas operates sixteen formulation manufacturing facilities, of which eleven are located in India, and the rest in the U.K. and Mexico. Between them, the facilities are accredited by top global regulators such as USFDA, EMA, MHRA, TGA, and others. Every year, the company invests ~6 – 7% of its revenues in R&D.