IPO-bound Senores Pharma, Dr. Reddy's Labs launch ivermectin tablets in US
Senores Pharmaceuticals and Dr. Reddy's Laboratories, have announced the launch of ivermectin tablets USP, 3 mg. in the US market.
The tablets used to treat worm infections will be marketed by Dr. Reddy's. It is the generic version of Merck Sharp and Dohme’s Stromectol.
“We are pleased to advance our growth with the launch of a limited-competition product. With our continuous focus on niche opportunities, we are proud to be the second generic to receive approval for this product," said Swapnil Shah, Managing Director, Senores Pharmaceuticals Limited.
Ivermectin tablets, 3 mg brand, and generic products had US sales of approximately $20 million MAT for the twelve months ending in September 2024, according to IQVIA.
Ivermectin tablets are used to treat various parasitic infections that can affect the intestinal tract, skin, and eyes.
Senores has long-term marketing arrangements with prominent foreign and Indian pharmaceutical companies including Dr. Reddy’s Laboratories to build an extensive pipeline across diverse dosage forms and therapeutic areas.
In July, Senores filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The draft red herring prospectus (DRHP) revealed that the Ahmedabad-based company's IPO is a combination of fresh issuance of shares worth Rs 500 crore and an offer for sale (OFS) of up to 27 lakh equity shares by promoters and other selling shareholders.
The Company specialises in identifying, developing, and manufacturing a wide array of specialty, underserved, and complex pharmaceutical products, positioning itself as a preferred partner for select customers.
Utilising data analytics, research, market assessment, and experienced management; it strategically selects commercially underserved molecules and introduces them in both regulated markets mainly the US and Canada, and emerging markets across 43 countries.
