Aurobindo Signs a Definitive Agreement to Acquire Apotex’
March 15, 2019 / Guy Brits 2nd Annual Digitization in Pharma Summit
Hyderabad, India, 14 July 2018: Aurobindo Pharma Limited (BSE: 524804 and NSE: AUROPHARMA) ("Aurobindo"), a world-leading marketer and manufacturer of generic pharmaceuticals and active pharmaceutical ingredients announces today the signing of a definitive agreement to acquire from Apotex International Inc. (“Apotex”), its commercial operations and certain supporting infrastructure in five European countries. Closing of the transaction is conditional on the receipt of competition clearances for the transaction by the Dutch and Polish authorities.
The acquisition is in line with Aurobindo’s strategy to strengthen and grow its European business and to expand in Eastern Europe.
In Poland, Aurobindo will add significant sales based on the established brand name “APO” as well as a dedicated sales force covering physicians and the pharmacy network. In Poland and the Czech Republic, Aurobindo will become one of top 15 generics (Gx) companies in each country.
In the Netherlands, the acquisition will lead to Aurobindo becoming a leading OTC company by volume. In Spain it will strengthen the company’s position in the generics market and in Belgium, the acquisition will provide Aurobindo with an entry into the retail generics space, where it will become a top 5 player.
Aurobindo currently has a presence in nine European countries, Portugal, France, Germany, the Netherlands, Spain, Italy, Belgium, UK and Romania. Its current European business spans the Gx, tender generics (TGx), branded generics (BGx) and hospital generics (Hx) segments supported by an established commercial and hospital sales infrastructure.
In the fiscal year which ended in March 2018, Aurobindo’s sales in Europe rose up to EUR 577 million.