India Inc India Inc: Thursday, 12 January 2017 06:59

Aurobindo Pharma buys Portugal firm

Aurobindo Pharma has announced the acquisition of Portugal’s Generis Farmaceutica SA.

The Hyderabad-based company said a definitive agreement was signed by its step-down subsidiary, Agile Pharma, Netherlands. The acquisition will be from Magnum Capital Partners for an all-cash deal, the company said.

It will include a manufacturing facility in Amadora, Portugal, which has the capacity to produce 1.2 billion tablets or capsules annually. After the acquisition, the Aurobindo Group will be the largest in the generic pharmaceutical market in Portugal, with a portfolio of 271 generic products.

Generis has a wide portfolio of products, with a major share in therapeutic areas such as cardiovascular, central nervous system, anti-infective, and the genitourinary system.

Aurobindo expects to complete the deal by next month, after the Portuguese Competition authorities clear the deal.

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