Aurobindo takes top generic spot in Portugal with €135M deal for Generis

Pills
With its €135 million deal to buy Generis Farmacêutica, India's Aurobindo gets a manufacturing plant with the capacity to make 2.2 billion tablets a year.

India’s Aurobindo Pharma, which has been building its presence around the world, has struck a new deal to buy a generics manufacturer and plant in Portugal which it says will make it the largest generics manufacturer in that country.  

Aurobindo will pay about €135 million to buy Generis Farmacêutica and a handful of subsidiaries from Magnum Capital Partners. That includes a solid-dose manufacturing facility in Amadora with the capacity to pump out about 2.2 billion tablets a year. In addition to producing for the Portuguese market, the Indian drugmaker said the new plant can be used to supplement its European production.

Generis is projected to have sales of about €64.8 million for 2016. Aurobindo projects that it can extract about €2 million in savings from its combined operations in 2018 and €5 million in 2019.

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The company has been building its manufacturing in both the EU and the U.S. In 2014 it paid $41 million to buy from Actavis seven generic drug making facilities in Western Europe including in Portugal. The deal included products, marketing authorizations and license rights as well as a long-term agreement for Aurobindo to provide Actavis with APIs. Actavis was acquired last year by Teva.

Last year, Aurobindo announced it would spend about $31.7 million to establish a U.S. headquarters in Durham, North Carolina, and to take over an existing medical plant there for manufacturing. It said it planned to add about 275 jobs at the operations.

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