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Aurobindo Pharma to buy Portugal-based Generis for Rs 969 crore

This is a second major European acquisition by Aurobindo, which plans to grow its business on the continent, now the largest contributor to global pharmaceutical revenues after the US.
Hyderabad-based Aurobindo Pharma on Saturday announced the acquisition of Generis Farmacêutica, which operates in Portugal, from Magnum Capital Partners for an all-cash deal of 135 million euros (Rs 969.3 crore).
Aurobindo Pharma’s step-down subsidiary, Agile Pharma, Netherlands will complete the deal. It will include a manufacturing facility in Amadora, Portugal, which has the capacity to produce 1.2 billion tablets or capsules annually.

It’s portfolio currently consists of Aurovitas, Unipessoal LDA and Aurobindo Pharma-Portugal. Generis has a wide portfolio of products, with a major share in therapeutic areas such as cardiovascular, central nervous system, anti-infective, and the genitourinary system.

After the acquisition, the Aurobindo group will be the leader in the generic pharmaceutical market in Portugal. It will have the largest generic portfolio of 271 products.  It expects to complete the deal by next month after Portuguese Competition authorities clear the deal. It will not take any debt as part of this transaction.

This is a second major European acquisition by Aurobindo, which plans to grow its business on the continent, now the largest contributor to global pharmaceutical revenues after the US.

V Muralidharan, senior vice-president of European operations for Aurobindo, said “The acquisition of Generis, by leveraging its strong portfolio and unrivaled brand recognition, will allow us to establish ourselves as the top generics player in the Portuguese market. The combined entity will benefit from a robust pipeline covering all major molecules coming off-patent in the next five years.”
Paulo Lilaia, chief executive officer, Generis said: “Generis will benefit immensely from Aurobindo’s vertical integration and strong product pipeline. Our large portfolio, along with our unmatched commercial presence in Portugal, will allow Aurobindo to consolidate its market position.”
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