Aurobindo Pharma all set to buy Portugal’s Generis for Rs 970 crore

Hyderabad based Aurobindo Pharma has recently announced its acquisition of Portuguese pharmaceutical company Generis Farmaceutica SA from Magnum Capital Partners for approximately Rs970 crore (135 million euros).

Company's press statement stated, "This deal consolidates Aurobindo's footprint in Portugal, which currently consists of Aurovitas, Unipessoal LDA and Aurobindo Pharma (Portugal), Unipessoal Limitada. The consolidated APL group will rank number one in the Portuguese generic pharma market, and will have the largest generic product portfolio consisting of 271 products"

V. Muralidharan, senior vice president, Aurobindo (European Operations) said ‘'the combined entity will benefit from a robust pipeline covering all major molecules coming off-patent in the next five years. The acquisition includes a state of the art manufacturing facility based in Portugal, which will allow us to better serve both the local Portuguese market and the broader European market, particularly with regard to small volume products and also to meet timelines for low lead time tenders"

Paulo Lilaia, CEO of Generis said, "Generis will benefit immensely from Aurobindo's vertical integration and strong product pipeline"