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The completion of Sandoz acquisition and new product launches are triggers
Revenue from operations rose 28.1% year-on-year to Rs 5,444.6 crore during the quarter under review
Aurobindo had reported Rs 19,563.6 crore in revenues in FY19 with an year-on-year growth of 18.5 per cent
Firm may have a tough task ahead improving manufacturing practices across the board through remediation running into months and years
Aurobindo Pharma share price fell as much as 7.7 per cent to Rs 578.75
The company's stock took a beating after the USFDA pointed out data integrity lapses at the firm's formulations facility in Telangana's Bachupally
The company said it was confident that the contamination in valsartan will not spread to other products
None of the observations are repetitive and are more procedural in nature, Aurobindo Pharma said
Product launches, acquisitions are expected to drive US, EU prospects
According to FDA's definitions, Official Action Indicated means "objectionable conditions were found and regulatory and/or administrative sanctions by FDA are indicated" during inspections
As the pricing pressure in US generics market recedes, the company is also expected to fair well, say analysts, who see growth impetus coming from its recent acquisitions in the US and Europe
The product portfolio is expected to generate a revenue of around $100 million for first 12 months after completion of the transaction for Aurobindo
Besides, the report said preparative apparel was not worn as necessary to protect drug products from contamination
BS ReporterHyderabad, 14 July: Aurobindo Pharma Limited announced today that its step-down subsidiary Agile Pharma B V(Netherlands ) signed a definitive agreement to acquire from Canadian pharmaceuticals company Apotex International Inc. its commercial operations and certain supporting infrastructure in five European countries for Euro 74 million(Rs 5.93 billion) in an all cash deal. The company expects to close the transaction in 3-6 months.The acquisition is in line with Aurobindo's strategy to strengthen and grow its European business and to expand in Eastern Europe, the company said.The acquisition includes a portfolio of over 200 prescription drugs and 88 OTC products and an additional pipeline of over 20 products which are expected to be launched over the next two years, besides a manufacturing facility in Leiden the Netherlands, with capabilities across manufacturing and packaging and capacity of 1.8 billion tablets per annum.With the acquisition of Apotex Inc's commercial ...
The acquired business is estimated to have annual sales of euro 130 million, according to analysts, and will add to Aurobindo's prospects in Europe
Aurobindo Pharma had inked a binding agreement on July 14, 2018, to acquire five of Apotex' European businesses
Revenues from operations increased 21.5 percent to 5,269.7 crore during the quarter under review as compared to Rs 4336.1 crore in the year ago period
'We have delivered a robust revenue growth of 22%', said Aurobindo Pharma MD N Govindarajan
Acrotech will be acquiring the product portfolio on a debt free and cash free basis, Aurobindo Pharma Ltd said in a regulatory filing