Aurobindo Pharma Limited, step-down subsidiary, Agile Pharma B V (Netherlands), signed a definitive agreement to acquire Canadian pharmaceuticals company Apotex International Inc’s commercial operations and certain supporting infrastructure in five European countries for €74 million in an all-cash deal.
The acquisition is in line with Aurobindo’s strategy to strengthen and expand in Eastern Europe 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. There is also a manufacturing facility in Leiden in the Netherlands, with capabilities across manufacturing and packaging and a capacity of 1.8 billion tablets per annum.
With the acquisition of Apotex Inc’s commercial operations in the Netherlands, Poland, Spain, Czech Republic and Belgium, Aurobindo will be able to improve its market access, besides adding a quarter of its existing European revenues in the form of Apotex’s sales. While Aurobindo had sales in Europe of €577 million, the net sales for the acquired business is around €133 million in the year ending March 2018.