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Feb, 12 2019

Aurobindo completes acquisition of Apotex's five European Biz

The Hyderabad-headquartered drug maker, in July 2018, had inked a binding agreement to buy five of Apotex's European businesses.

Aurobindo Pharma, a world-leading marketer and manufacturer of generic pharmaceuticals and active pharmaceutical ingredients, has completed the acquisition of Canadian generic pharma firm Apotex's commercial operations and certain supporting infrastructure in five European countries.

The Hyderabad-headquartered drug maker, in July 2018, had inked a binding agreement to buy five of Apotex's European businesses, including infrastructure, personnel, products, certain established trademarks, marketing authorisations and dossier licence rights in Poland, the Czech Republic, the Netherlands, Spain and Belgium, in a transaction valued at EUR 74 million.

The acquisition is aimed at accelerating the European growth strategy of Aurobindo by strengthening the geographic reach and commercial infrastructure.

Jefferies International Limited acted as sole financial adviser and Herbert Smith Freehills LLP as legal counsel for the acquisition.

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