Aurobindo Pharma acquires Pharmacin

As reported earlier in our blog, Aurobindo Pharma has acquired a company in the Netherlands. The company happens to be Pharmacin International BV, a €6 mn generic pharma company. The acquisition was made through Aurobindo’s Dutch subsidiary Agile Pharma BV for an undisclosed sum. This is Aurobindo’s second acquisition in Europe after Milpharm in the UK in Feb 2006.

Agile Pharma acquired 100% of Pharmacin International B.V. from Jerim B.V. and Jonghoud International B.V. Pharmacin is engaged in supply and licensing of generics in Netherlands and in key markets in Europe. Pharmacin has over 200 product registrations for 63 customers in the Netherlands and Europe. Its strengths include cGMP warehouses close to Rotterdam, a strategic distribution location in Europe.

Read article from The Economic Times.
Related post: Aurobindo Pharma all set to buy a company in The Netherlands

Aurobindo Pharma all set to buy a company in The Netherlands

DNA Money reports that Aurobindo Pharma is all set to announce the acquisition of a formulations company in The Netherlands that will speed up the company’s European strategy. The board of directors has already approved the proposal and the deal will be announced on Friday subject to finalization of the price, say industry sources.

The transaction value is expected to be upwards of $20 mn. This will be the second European acquisition by Aurobindo Pharma after the acquisition of MilPharm in February 2006. The company being acquired has several marketing authorizations and will enable Aurobindo to expand in the market much faster apart from getting clearances for rest of Europe much faster. The acquired company had rights to 103 third-party products which were transferred to Aurobindo.

MilPharm, which had sales of 7.7 mn in 2005, was useful in front ending the company’s foray into the UK generics market where margins are much higher than in the US.