INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Aurobindo Pharma on Saturday said it had signed a definitive agreement to acquire Apotex's businesses in Czech Republic,
Poland, Spain, Belgium and the Netherlands for 74 million euro
The move is seen as Aurobindo's attempt to strengthen its commercial infrastructure, particularly in the generics market of Eastern
At present, Aurobindo Pharma has presence in nine European countries.
The acquisition would give Aurobindo Pharma access to a portfolio of
over 200 prescription drugs and 88 OTC products
Besides, the businesses have an additional pipeline of over 20 products, which are expected to be launched over the next two years, the drug
maker said in a filing to BSE.Aurobindo will acquire the commercial infrastructure, including experienced personnel, products, marketing
authorisations and dossier licence rights in Poland, the Czech Republic, the Netherlands, Spain and Belgium.
"In the Netherlands, the
acquisition will lead to Aurobindo becoming a leading OTC company by volume
In Belgium, the acquisition will provide Aurobindo with an entry into the retail generics space, where it will become a top 5 player," the
company said.Aurobindo and Apotex will enter a transitional manufacturing and supply arrangement to support the ongoing growth plans of
these businesses, it added.
Earlier this week, ET reported quoting sources that the drugmaker was holding final negotiations to acquire
