Aurobindo Pharma acquires Italian company
Aurobindo Pharma has entered into a strategic deal with TAD Italy, for acquisition of intellectual property and marketing authorizations.
MUMBAI: Aurobindo Pharma has entered into a strategic deal with TAD Italy, for acquisition of intellectual property and marketing authorizations. This acquisition will provide access to 70 ready-market products which will fast track Aurobindo's entry into the Italian generic market, where regulatory procedures are considered as the one of the toughest in all of Europe.
"This deal will provide Aurobindo with a ready local platform and will help in immediately maximising the potential of vast internal pipeline which is to follow in the next few months. Aurobindo has already flied 22 products for registration in Italy. During the integration process, the company expects to derive maximum synergies from this acquisition by shifting the manufacturing of TAD's products to our own facilities," said Ashish Menocha, Aurobindo's regional VP, Europe.
Aurobindo has also acquired high profile OTC brands--Mapooro and Carmiooro--from TAD as a part of this deal.
This is the company's third acquisition in Europe, after buying Milpharm in UK and Pharmacin International BV, in Netherlands.
At 10:41 am, Aurobindo Pharma shares were up 1.41 per cent at Rs 252 on BSE.
"This deal will provide Aurobindo with a ready local platform and will help in immediately maximising the potential of vast internal pipeline which is to follow in the next few months. Aurobindo has already flied 22 products for registration in Italy. During the integration process, the company expects to derive maximum synergies from this acquisition by shifting the manufacturing of TAD's products to our own facilities," said Ashish Menocha, Aurobindo's regional VP, Europe.
Aurobindo has also acquired high profile OTC brands--Mapooro and Carmiooro--from TAD as a part of this deal.
This is the company's third acquisition in Europe, after buying Milpharm in UK and Pharmacin International BV, in Netherlands.
At 10:41 am, Aurobindo Pharma shares were up 1.41 per cent at Rs 252 on BSE.
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