Aurobindo completes acquisition of Apotex's businesses in 5 European countries

Aurobindo Pharma, a world-leading marketer and manufacturer of generic pharmaceuticals and active pharmaceutical ingredients, on Monday announced that it has closed the acquisition of Apotex's commercial operations and certain supporting infrastructure in five European countries.

The binding agreement to acquire five of Apotex' European businesses including infrastructure, personnel, products, certain established trademarks, marketing authorisations and dossier license rights in Poland, the Czech Republic, the Netherlands (including the manufacturing facility in Leiden), Spain and Belgium was announced on July 14 last year.

Jefferies International Limited acted as sole financial advisor and Herbert Smith Freehills LLP acted as legal counsel to Aurobindo. Ernst & Young India provided financial due diligence services.

Aurobindo's product portfolio is spread over seven major therapeutic/product areas encompassing antibiotics, antiretrovirals, CVS, CNS, gastroenterologicals, anti-allergies and anti-diabetics. The United States and Europe are Aurobindo's two most important markets accounting for over 70 per cent of the company's 2.6 billion dollar sales.