Aurobindo strengthens its presence in Europe

The Portuguese acquisition should rub off positively on the stock

Aurobindo Pharma announced yet another acquisition in Europe, as it signed a binding agreement to acquire Portuguese drug firm Genesis for 135 million euro (Rs 969 crore). Aurobindo has been steadily expanding its European footprint since 2006 and had acquired commercial operations of Actavis in seven Western European countries in 2014 to drive growth. Europe contributes about 25 per cent to Aurobindo’s overall sales.

The acquisition of Generis will help Aurobindo scale the number one rank in the Portuguese pharmaceutical market. What’s more while the Actavis acquisition was being looked at to drive Aurobindo’s European growth and has of late