Aurobindo acquires Italian generic pharma firm TAD
24 March 2008
Aurobindo Pharma Ltd has concluded a strategic deal for the acquisition of Italian generic pharmaceuticals maker TAD Italy, including intellectual property and marketing authorisations.
This is the Aurobindo Pharma third acquisition in Europe, after acquiring the UK-based Milpharm Ltd and Dutch firm Pharmacin International BV, in the Netherlands.
The company says the acquisition will give Aurobindo an access to more than 70 ready-to-market products, which will speed up it entry into the Italian generic market, while reducing the time to market and enhance the relationships in the generic value chain in addition to building a broad and formidable product portfolio.
This acquisition is expected to jumpstart the Aurobindo's business in Italy where the market and the regulatory procedures are considered as one of the toughest in the European Union.
"This deal will provide us with a ready local platform and will help us is immediately maximising the potential of our vast internal pipeline which is to follow in the next few months," said Ashish Menocha, Aurobindo's regional vice president, Europe.
Menocha also disclosed that Aurobindo Pharma had already filed 22 products for registration in Italy. "During the integration process, we expect to derive maximum synergies from this acquisition by shifting the manufacturing of TAD's products to our own facilities," he said.
The transaction also brings in to Aurbindo Pharma's fold OTC brands Mapooro and Carmiooro from TAD as a part of this deal.