Aurobindo Pharma Limited has announced the signing of a binding agreement by and through its wholly owned step-down subsidiary, Agile Pharma B.V., Netherlands, to acquire Generis Farmaceutica SA in Portugal from Magnum Capital Partners. Generis is a company engaged in the manufacture and sale of pharmaceutical products in Portugal. Closing of the transaction is conditional on obtaining necessary approvals from Portuguese authorities.
The total consideration for the acquisition is Euro 135 million. The acquisition includes the manufacturing facility in Amadora, Portugal, which has the capacity to manufacture 1.2bn tablets / capsules / sachets annually.
The acquisition of Generis, by leveraging its strong portfolio and unrivalled brand recognition will allow Aurobindo Pharma to establish ourselves as the top generics player in the Portuguese market.
The Hyderabad-based firm has been steadily expanding its European footprint since 2006. In 2014 it has acquired Actavis’s commercial operations in seven Western European countries.