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Aurobindo Pharma acquires European companies
By siliconindia
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Tuesday, 02 January 2007, 18:30 IST
Hyderabad: Aurobindo Pharma is targeting European markets to boost its revenues. With two major acquisitions in 2006 - The UK-based Milpharm Ltd. and the Netherlands-based Pharmacin International, it is all set to achieve its goals in the fiscal 2007-08.
The 
1,472-crore pharma major, Aurobindo Pharma, has its strengths in generic pharmaceuticals and active pharmaceutical ingredients (APIs). The aim behind the acquisition was to get access to a large portfolio of products with regulatory approvals in Europe. On the other hand they could gain newer markets.
Hyderabad-based Aurobindo has already applied for 26 Abbreviated New Drug Applications (ANDAs) in Europe, of which it has got regulatory approvals for five. The strict markets of Europe take nearly 36 months to give an approval, informed company officials.
By acquiring Pharmacin International, which has a robust dossier support of over 200 product registrations for 63 customers in Europe, Aurobindo would get access to the large portfolio of products, which it has the potential to bring to the markets, the officials told Business Line.
Likewise the profitable generic formulation company, Milpharm owns over hundred approved marketing authorizations (MAs) by the Medicines and Healthcare Products Regulatory Agency, UK. The MAs are well diversified into various segments ? CNS, CVS, GI, diabetology, anti-fungal, anti-bacterial, oncology et al.
In February 2006, Aurobindo acquired Milpharm Ltd, through its wholly owned subsidiary, Aurex Generics Ltd, UK, which entered into share purchase agreement with Whyte Group Ltd and Iracot Ltd to facilitate the buyout.
In the case of Pharmacin International, Agile Pharma, the wholly owned subsidiary of Aurobindo , entered into a similar agreement with Jerim and Jonghoud International to acquire 100 per cent of the shares. The acquisition value was estimated to be marginally lower than Pharmacin's sales turnover of 6 million for the year 2006.
Aurobindo has developed a strategy of building a large portfolio of APIs and getting regulatory approvals in potentially lucrative markets in the US, Africa, Europe etc, markets over 180 APIs and 250 formulations. It has been doing this since last two years. It has obtained approvals for over 35 ANDAs in the US, where it has filed 70 ANDAs and 100 Drug Master Files (DMFs).
The gains from this strategy are expected to boost the company's revenues considerably in the next two years.
1,472-crore pharma major, Aurobindo Pharma, has its strengths in generic pharmaceuticals and active pharmaceutical ingredients (APIs). The aim behind the acquisition was to get access to a large portfolio of products with regulatory approvals in Europe. On the other hand they could gain newer markets.
Hyderabad-based Aurobindo has already applied for 26 Abbreviated New Drug Applications (ANDAs) in Europe, of which it has got regulatory approvals for five. The strict markets of Europe take nearly 36 months to give an approval, informed company officials.
By acquiring Pharmacin International, which has a robust dossier support of over 200 product registrations for 63 customers in Europe, Aurobindo would get access to the large portfolio of products, which it has the potential to bring to the markets, the officials told Business Line.
Likewise the profitable generic formulation company, Milpharm owns over hundred approved marketing authorizations (MAs) by the Medicines and Healthcare Products Regulatory Agency, UK. The MAs are well diversified into various segments ? CNS, CVS, GI, diabetology, anti-fungal, anti-bacterial, oncology et al.
In February 2006, Aurobindo acquired Milpharm Ltd, through its wholly owned subsidiary, Aurex Generics Ltd, UK, which entered into share purchase agreement with Whyte Group Ltd and Iracot Ltd to facilitate the buyout.
In the case of Pharmacin International, Agile Pharma, the wholly owned subsidiary of Aurobindo , entered into a similar agreement with Jerim and Jonghoud International to acquire 100 per cent of the shares. The acquisition value was estimated to be marginally lower than Pharmacin's sales turnover of 6 million for the year 2006.
Aurobindo has developed a strategy of building a large portfolio of APIs and getting regulatory approvals in potentially lucrative markets in the US, Africa, Europe etc, markets over 180 APIs and 250 formulations. It has been doing this since last two years. It has obtained approvals for over 35 ANDAs in the US, where it has filed 70 ANDAs and 100 Drug Master Files (DMFs).
The gains from this strategy are expected to boost the company's revenues considerably in the next two years.