Aurobindo To Acquire Generics Company
Aurobindo Pharma, a generics and active pharmaceutical ingredients (API) manufacturer headquartered in Hyderabad, India has signed a binding agreement by and through its wholly owned ubsidiary, Agile Pharma B.V, Netherlands, to acquire Generis Farmacêutica, a Venda Nova, Portugal-based generics pharmaceutical company, from Magnum Capital Partners for a total consideration of EUR 135 million ($144 million).
This deal adds to Aurobindo’s footprint in Portugal, which currently consists of Aurovitas, Unipessoal LDA, and Aurobindo Pharma (Portugal),Unipessoal Limitada. The consolidation will give the Aurobindo a generic product portfolio of 271 products and boost the company’s position in the Portuguese generic pharmaceuticals market. The acquisition includes a manufacturing facility in Amadora, Portugal, which has the capacity to manufacture 1.2 billion tablets/capsules/sachets annually.
Closing of the Generis transaction is conditional on obtaining necessary approvals from Portuguese authorities. Aurobindo has been expanding its European footprint since 2006, via acquisitions across several key markets, most notably in 2014 with the acquisition of Actavis’ commercial operations in seven Western European countries.
Source: Aurobindo Pharma