Aurobindo completes the acquisition of select Western European Businesses of Actavis
1st April 2014, Hyderabad
Aurobindo Pharma Limited (BSE:524804 and NSE:AUROPHARMA) today announced the completion of the previously announced acquisition of certain commercial operations in Western Europe from Actavis plc (NYSE: ACT). The agreement to acquire the Actavis operations was announced in January 2014.
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, SVP of European Operations for 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".
Mr Arvind Vasudeva, CEO of Aurobindo's Formulations Business further stated that: "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".
About Aurobindo
Aurobindo Pharma Limited (www.aurobindo.com), headquartered at Hyderabad, India, manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company's manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The company's robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics, supported by an outstanding R&D set-up. The Company is marketing these products globally, in over 125 countries. Additional information is available at our website at www.aurobindo.com.
About Actavis
Actavis plc (NYSE: ACT) is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. Actavis has global headquarters in Dublin, Ireland and U.S. administrative headquarters in Parsippany, New Jersey, USA.
Actavis markets generic, branded generic, legacy brands and Over-the-Counter (OTC) products in more than 60 countries, and operates a global branded specialty pharmaceutical business focused in the Women's Health, Urology, Gastroenterology and Dermatology therapeutic categories. Actavis also has a portfolio of five biosimilar products in development in Women's Health and Oncology. Actavis Global Operations has more than 30 manufacturing and distribution facilities around the world, and includes Anda, Inc., a U.S. pharmaceutical product distributor.
For press release and other company information, visit Actavis' web site at www.actavis.com.
For further information, please contact:
Investor Relations
Aurobindo Pharma Limited
Corporate Off: WaterMark Building, Level-1
Plot No.11, Survey No. 9
Kondapur, Hitech City, Hyderabad
Reg Off: Plot No. 2, Maitrivihar
Ameerpet, Hyderabad
Phone: 040-66725000 / 66725401
Email: [email protected]
Website : www.aurobindo,.com