Aurobindo Pharma widens its presence in Europe

Aurobindo Pharama Limited's wholly-owned step-down subsidiary, Agile Pharma B.V (Netherlands) has entered into an agreement to acquire Apotex International Inc’s commercial operations in five European countries for 74 million euro.  

  
Apotex Inc is a Canadian pharmaceutical company engaged in the manufacture and marketing of pharmaceutical products. Agile Pharma has signed a pact with Apotex to acquire commercial operations and certain supporting infrastructure in five European countries, Spain, the Netherlands, Belgium, Poland and Czech Republic. The deal is subject to competition clearances in the Netherlands and Poland. 


This move will strengthen the company’s presence in EU region. It will diversify Aurobindo’s European product portfolio by adding more than 200 generics and 80 over-the-counter (OTC) products. Aurobindo had total sales of 133 million euro for FY18. 


On Monday, the share reached an intraday high of Rs. 611.95 and intraday low of Rs. 594 per share on the BSE. The 52-week high was Rs. 808.95 and 52-week low was Rs. 527 per share on the BSE. 
  

At 10:43 hours, the stock was quoting Rs. 600.25, down by 0.48 per cent while BSE Sensex was trading at 36,530.09, down by 0.038 per cent and Nifty50 was down by 0.22 per cent at 10,994.45 level.