Aurbindo Pharma completes acquisition
Aurbindo Pharma Limited announced the completion of the previously announced acquisition of certain commercial operations in Western Europe from Actavis plc.
Aurobindo acquires personnel, commercial infrastructure, products, marketing authorisations and dossier licence rights in seven European countries. Actavis and Aurobindo have also entered into a long term commercial and supply arrangement.
Following receipt of clearances from competent authorities, Aurobindo now intends to combine the strength of both enterprises (including its vertically integrated platform and existing commercial infrastructure) in these markets and to identify and maximise all opportunities to improve performance.
The acquisition will make Aurobindo one of the leading Indian pharmaceutical companies in Europe said Mr Muralidharan, senior vice-prsident of European Operations, Aurobindo. The acquisition will enable Aurobindo to achieve critical mass in Western Europe with a top 10 position in several key markets. He further added "I am delighted to welcome relevant Actavis customers, suppliers, partners and employees to Aurobindo. 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".
Arvind Vasudeva, ceo, Aurobindo's Formulations Business commented "We had carefully reviewed the Actavis European operations and concluded that with our cost competitiveness and group structure we could significantly capitalize Actavis' strong market position in these Western European countries and improve profitability, thereby accelerating our strategy of becoming a significant Gx player in Europe".