Hyderabad-headquartered drug maker Aurobindo Pharma said Wednesday it was the highest bidder for the US-based nutritional supplement maker Natrol Inc., owned by Indian pharmaceutical firm Plethico Pharmaceuticals, at around $132.5 million (approximately Rs 810 crore).
The nutritional supplement maker, bought by Plethico in 2008 for about $82 million, had filed a bankruptcy application in June in the wake of class action suits in the North American market. The process of acquisition is based on an auction and with an agreement to take on certain liabilities of the US firm.
Aurobindo Pharma said Natrol, which has $500 million of assets and $100 million of liabilities, would make for a good purchase. “Natrol provides the right platform for creating a fully integrated OTC platform in the USA and in other international markets,” Aurobindo said in a statement. For the Hyderabad-based company, the US firm has brand reputation and presence in a variety of attractive suppliment attractive supplement markets, apart from proven performance in the mass market, health food and speciality channels.
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Ref: 1. Economic Times, Aurobindo Pharma highest bidder for Natrol, Published on 13 Nov, 2014, 05.43AM IST
2. Official website www.natrol.com