Aurobindo Pharma has signed an agreement to acquire Apotexs businesses in Czech Republic, Poland, Spain, Belgium and Netherlands for 74 million euro.
Through the acquisition, Aurobindo has made an attempt to strengthen its position in the generics market of Eastern Europe. It is to be noted that the pharma company has its presence in nine European countries.
This acquisition will give access to a portfolio of over 200 prescription drugs and 88 OTC products.
An additional pipeline of over 20 products is also likely to be launched over the next two years.
In the process of acquisition, Aurobindo will acquire infrastructure, including experienced personnel, products, marketing authorisations and dossier license rights in Poland, the Czech Republic, the Netherlands, Spain and Belgium.
“In the Netherlands, the acquisition will lead to Aurobindo becoming a leading OTC company by volume. In Spain, it will strengthen the companys position in the generics market. In Belgium, the acquisition will provide Aurobindo with an entry into the retail generics space, where it will become a top 5 player,” the company said.
Both companies will enter into transitional manufacturing and supply arrangement to support the ongoing business, the company added.