The Hindu BusinessLine: April 02, 2014
Hyderabad: Aurobindo Pharma Ltd has completed the acquisition of certain commercial operations in Western Europe from Actavis Plc. In January this year, the Hyderabad-based Aurobindo Pharma had signed an agreement with Actavis to acquire its personnel, commercial infrastructure, products, marketing authorisations and dossier licence rights in seven European countries for €30 million.
Both companies had also inked a long-term commercial and supply arrangement.
“The acquisition will make Aurobindo one of the leading Indian pharmaceutical companies in Europe with a top 10 position in several key markets,’’ Muralidharan, Senior Vice-President of European operations for Aurobindo, said here on Tuesday.
Aurobindo would work to combine the strength of both enterprises in these markets and to identify and maximise all opportunities.
“We will continue to collaborate with Actavis to ensure business continuity and a smooth transition. In parallel, we will work closely with the acquired management teams to achieve a rapid and successful integration,’’ he added. Aurobindo’s scrip gained 4.67 per cent on BSE on Tuesday to end at Rs. 534.70.
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