16 July 2018 | News
The move is seen as Aurobindo's attempt to strengthen its commercial infrastructure, particularly in the generics market of Eastern Europe.
Image credit- mmw.com
Aurobindo Pharma has signed a definitive agreement to acquire Apotex's businesses in Czech Republic, Poland, Spain, Belgium and the Netherlands for 74 million euro.
The move is seen as Aurobindo's attempt to strengthen its commercial infrastructure, particularly in the generics market of Eastern Europe. At present, Aurobindo Pharma has presence in nine European countries.
The acquisition was made by Aurobindo’s wholly-owned subsidiary Agile Pharma B.V. (Netherlands). Aurobindo will acquire commercial infrastructure including experienced personnel, products, marketing authorizations and dossier license rights in Poland, the Czech Republic, the Netherlands (including the manufacturing facility in Leiden), Spain and Belgium.
In Poland and the Czech Republic, Aurobindo will become one of top 15 generics (Gx) companies in each country. In Poland, Aurobindo will add significant sales based on the established brand name “APO” and a dedicated sales force covering physicians and the pharmacy network.
Aurobindo will also add an OTC offering in the Netherlands and will become a leading OTC company by volume. In Belgium, the acquisition will provide Aurobindo with an entry into the retail generics space, where it will become one of the top 5 players.