Aurobindo Pharma expands in Europe
Aurobindo Pharma announced that it has recently concluded a strategic deal, for acquisition of Intellectual Property & Marketing Authorizations, with TAD Italy, a generic company registered in Italy. This acquisition will give Aurobindo an access to more than 70 ready to market products which will fast track Aurobindo's entry into the Italian generic market. This strategic acquisition is expected to jump start the business for Aurobindo in Italy where the market and the regulatory procedures are considered as the one of the toughest in all EU.
"This deal will provide us with a ready local platform and will help us is immediately maximising the potential of our vast internal pipleline which is to follow in the next few months. Aurobindo has already filed 22 products for registration in Italy. During the integration process, we expect to derive maximum synergies from this acquisition by shifting the manufacturing of TAD's products to our own facilities." commented Ashish Menocha, Aurobindo's Regional VP, Europe.
Aurobindo has also acquired high profile OTC brands - Mapooro and Carmiooro from TAD as a part of this deal.
This is the Company's third acquisition in Europe, after acquiring Milpharm Ltd in UK and Pharmacin International B.V., in Netherlands. The Company believes that such acquisitions reduce the time to market and enhance the relationships in the generic value chain in addition to building a broad and formidable product portfolio.
Motilal Oswal Investment Advisors Pvt Ltd, was the advisor to the Company on the transaction.
About Aurobindo Pharma Limited
Aurobindo Pharma Limited, headquartered at Hyderabad, India, manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company's manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, WHO, Health Canada, MCC South Africa. The company's robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics. The Company is marketing these products globally, in over 100 countries. For more information, visit www.aurobindo.com.