Aurobindo Pharma acquires Actavis' operations in seven European nations
The closing of transaction is conditional on anti-trust approvals and completion of employee consultation processes.
Hyderabad, January 18, 2014: The generic drug maker from India, Aurobindo Pharma, has signed a binding offer agreement with Actavis plc to acquire its commercial operations in seven western European nations.
However, Aurobindo Pharma stated in a statement that closing of the transaction is conditional on certain anti-trust approvals and completion of employee consultation processes. The Indian company expects to acquire personnel, commercial infrastructure products, marketing authorisations and dossier licence rights in the seven countries.
It may be noted here that the acquisition expands Aurobindo’s front-end operations into five segments (generics, prescription products, over-the-counter products, hospital products and generics tenders) with approximately 1,200 products and an additional pipeline of over 200 products. The Indian drug firm expects the acquisition to help expand its operations to achieve critical mass in Western Europe with a top 10 position in several key markets.
Experts are looking at the acquisition as a value enhancing and forward looking initiative from Aurobindo Pharma.