Hyderabad-based Indian pharmaceutical major Aurobindo Pharma has signed a 135-million euro deal to buy Generis Farmaceutica SA, a company that manufactures and sells pharma products in Portugal, a media report said.
“The acquisition of Generis, by leveraging its strong portfolio and unrivalled brand recognition will allow us to establish ourselves as the top generics player in the Portuguese market,” The Economic Times quoted Aurobindo Senior Vice President (European Operations) V Muralidharan as saying.
“This acquisition coupled with our past acquisition activity underlines our commitment to focus on growth initiatives in European markets and will be a a key driver of growth for the future,” Muralidharan added.
Under the deal, Aurobindo Pharma will acquire Generis’s manufacturing facility in Amadora in Portugal which has a capacity to produce 1.2 billion tablets/capsules/sachets annually, according to the Economic Times.
“Our large portfolio along with our unmatched commercial presence in Portugal will allow Aurobindo to consolidate its market position in Portugal,” Generis CEO Paulo Lilaia said in a statement.
The acquisition of Generis is in line with Aurobindo Pharma’s strategic expansion plan in Europe. The Indian pharma major had earlier acquired Actavis’s commercial operations in seven Western European countries in 2014.