Aurobindo Pharma on Saturday said it has inked a pact to acquire Portugal’s Generis Farmaceutica SA from Magnum Capital Partners for a consideration of 135 million euros (around `969 crore).
The company has inked a binding agreement through its wholly-owned subsidiary Agile Pharma BV Netherlands to acquire Generis Farmaceutica for a total consideration of 135 million euros, Aurobindo Pharma said in a statement. Generis produces and sells pharma products in Portugal.
“The acquisition of Generis, by leveraging its strong portfolio and unrivalled brand recognition will allow us to establish ourselves as the top generics player in the Portuguese market,” Aurobindo SVP European Operations V Muralidharan said.
The combined entity will benefit from a robust pipeline covering all major molecules coming off patent in the next five years, he added. “This acquisition coupled with our past acquisition activity underlines our commitment to focus on growth initiatives in European markets and will be a a key driver of growth for the future,” Muralidharan said.