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Aurobindo Pharma acquires 7 oncology products from US company for $300 mn

The product portfolio is expected to generate a revenue of around $100 million for first 12 months after completion of the transaction for Aurobindo

Press Trust of India  |  New Delhi 

BPL medical, pharmaceuticals,

said Saturday it has completed the acquisition of seven marketed oncology injectable products, intellectual property and commercial infrastructure from Spectrum Pharmaceuticals Inc, a US-based global branded oncology company by Acrotech Biopharma.

In January, had said it will acquire a portfolio of seven branded from in a $300 million deal (over Rs 2,100 crore) which includes an upfront cash payment of $160 million.

"We would like to inform you that the acquisition has been completed on March 1," said in a regulatory filing to the BSE.

According to the definitive agreements inked between the two companies, Acrotech Biopharma LLC, a subsidiary of Aurobindo, will pay an upfront purchase price of USD 160 million in cash plus up to USD 140 million on achieving regulatory and sales-based milestones for the seven products.

Acrotech will be acquiring the product portfolio on a debt free and cash free basis, said in a regulatory filing earlier.

The acquisition will help Hyderabad-based company to enter the branded oncology market in the US with a range of products which are well recognised in the segment, it added.

As part of the deal, the drug firm will also acquire a in the US to continue commercialising these brands, the company had said.

The product portfolio is expected to generate a revenue of around $100 million for first 12 months after completion of the transaction for Aurobindo, the company had said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, March 02 2019. 15:35 IST
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