Aurobindo Pharma gets US FDA nod for its anti-epileptic drug and to acquire Portugal’s Generis for €

Aurobindo Pharma has been granted final FDA approval to launch a generic version of HQ Specialty Pharma's epilepsy drug levetiracetam, livemint.com reported.

• Aurobindo noted that it will launch the product this month.

• The drugmaker added that according to IMS Health, the US market for the drug was about $32 million for the 12 months ended November 2016.

Aurobindo Pharma has reached a deal to purchase Generis Farmaceutica for 135 million euros, livemint.com reported.

• "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," remarked Aurobindo senior vice president of European operations V Muralidharan.

• "This acquisition coupled with our past acquisition activity underlines our commitment to focus on growth initiatives in European markets and will be a key driver of growth for the future," Muralidharan added.

• The transaction, which will be mediated by Aurobindo's subsidiary Agile Pharma, will include Generis' manufacturing facility in Amadora, Portugal.

• The deal increases Aurobindo's European portfolio to 271 products.