Aurobindo Pharma has announced that it has completed the acquisition of seven marketed oncology injectable products, intellectual property and commercial infrastructure from Spectrum Pharmaceuticals Inc, a US-based global branded oncology company by Acrotech Biopharma.

In January, Aurobindo Pharma had said it will acquire a portfolio of seven branded oncology injectable products from Spectrum Pharmaceuticals Inc in a $300 million deal (over Rs 2,100 crore) which includes an upfront cash payment of $160 million.

“We would like to inform you that the acquisition has been completed on March 1,” Aurobindo Pharma said in a regulatory filing to the BSE recently.

According to the definitive agreements inked between the two companies, Acrotech Biopharma LLC, a subsidiary of Aurobindo, will pay an upfront purchase price of $160 million in cash plus up to $ 140 million on achieving regulatory and sales-based milestones for the seven products.

Acrotech will be acquiring the product portfolio on a debt free and cash free basis, Aurobindo Pharma Ltd said.

The acquisition will help Hyderabad-based company to enter the branded oncology market in the US with a range of products which are well recognised in the segment, it added.

Like

Dislike

Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter , Instagram.

"Exciting news! Elets technomedia is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!