Aurobindo buys Europe operations from Apotex

Aurobindo is set to expand its European footprint, “particularly in the generics market of Eastern Europe”, by signing a definitive agreement to acquire for €74 million (US$87 million) in cash Apotex’ businesses in five countries: Belgium, the Czech Republic, the Netherlands, Poland and Spain. Slated to close in the next three-to-six months, the acquisition is subject to clearance by Dutch and Polish competition authorities. Apotex intends to “focus its resources on the Americas, where strong demand for its portfolio continues”.

Extending and diversifying Aurobindo’s European product portfolio by adding over 200 prescription generics and 88 OTC products, the transaction will add commercial infrastructure including personnel, products, marketing authorisations and dossier rights in all five countries. An additional pipeline of over 20 products is “expected to be launched over the next two years”