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Aurobindo Pharma, India's second largest drug maker in the United States, which is one of the world's largest drug producers. Apotex in five European countries for a cash consideration of 74 million euros ( Rs 593 crore).
Aurobindo will not badume any debt as part of this transaction. The acquired business had net sales of around 133 million euros in the fiscal ended March 2018.
As part of the deal, Aurobindo will acquire commercial infrastructure including experienced personal, products, marketing authorizations and file license rights in Poland, the Czech Republic , the Netherlands, Spain and Belgium. Aurobindo will also get the manufacturing facility in Leiden, Netherlands as part of the deal.
Closing of the transaction is conditional on the receipt of clearances for the transaction by Dutch and Polish authorities, the drug maker said.
The acquisition is in line with Aurobindo's strategy to strengthen and grow its European business and to expand in Eastern Europe, "Aurobindo said in a statement.
In Poland, Aurobindo will add significant sales based on the established brand name" APO "as
In the Netherlands, the acquisition of a lead to Aurobindo becoming a leading OTC company by volume, in Spain it will strengthen the company's position in the generics market and in Belgium, the acquisition will provide Aurobindo where it will be among the top 5 players.
The acquisition includes a portfolio of over 200 prescription drugs and 88 OTC products and an additional pipeline of over 20 products which are expected to be launched over the next two years.
Aurobindo
Aurobindo has been expanding its European footprint since 2006 both organically and via carefully selected acquisitions across several key markets, most notably in 2014 with the acquisition of Actavis's commercial operations in seven Western European countries and in 2017 with the acquisition of Generis Farmaceutica in Portugal.
Aurobindo currently has a presence in nine European countries including Portugal, France, Germany, the Netherlands, Spain, Italy, Belgium , UK and Romania. Its current European business, the generics, the generics and the generics segment are supported by established commercial and hospital sales infrastructure. In the fiscal year ended March 2018, Aurobindo's Europe sales stood at 577 million euros.
Aurobindo has identified multiple areas for significant value creation and synergies from the proposed acquisition.
Aurobindo plans to leverage the infrastructure of acquiring businesses to strengthen its commercial reach in a number of countries and synergies will result from Aurobindo optimizing the potential of its vertically integrated platform.
"We expect a seamless integration of the acquired businesses with the rest of the Aurobindo group. Europe to date, "said V Muralidharan, Senior Vice President of European Operations for Aurobindo.
" We believe this acquisition is a key step towards our goal of becoming one of the leading generics companies in Europe, "Muralidharan added.
Jefferies International acted as the sole financial advisor and Herbert Smith Freehills acted as legal counsel to Aurobindo. Ernst & Young, India provided financial due diligence services.
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