India's Aurobindo eyes Teva generics for divestment in Allergan deal

India markets

Hyderabad-based Aurobindo Pharma wants to snap up some of the generics up for grabs from Teva Pharmaceutical Industries ($TEVA) as it sells products to meet antitrust concerns in order to buy the generics business of Allergan ($AGN).

Bloomberg reports that India's fourth largest drugmaker wants some or all of the products up for grabs and estimated to fetch more than $1 billion in total in markets in the U.K, Ireland and Iceland. The sales are being considered as part of the terms needed to win regulatory approval for the $40.5 billion deal.

An executive with Aurobindo declined to comment to FiercePharmaAsia on the report.

However, Bloomberg noted that on the company's May 31 earnings call, the question about interest in the Teva portfolio was broached by an analyst.

“We do not want to comment on anything specific at this juncture, anything which fits our strategy we will always evaluate that,” said N. Govindarajan, managing director of Aurobindo.

Other Indian firms are said to be in the hunt for the products, Bloomberg reported. Separately, Australia’s Mayne Pharma said in June it bought 42 products for $652 million that need to be divested by two companies, vaulting it into the top 25 generic firms in the U.S.

In the same month, Hyderabad-based Dr. Reddy's Laboratories ($RDY) snapped up an unspecified mix of 8 generic drugs from Teva for $350 million.

- here's the Bloomberg story from LiveMint

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Teva, Allergan generics deal on track to close in June: Analyst
Teva to divest $1B in assets to clear antitrust hurdles to Allergan deal: Reuters