Aurobindo acquires European interests for 74 million euros

Hyderabad’s Aurobindo Pharma (BSE: 524804) has agreed a deal to buy parts of Apotex International, including commercial operations and supporting infrastructure in five European countries.

The Indian firm, which pitches itself as a world-leader in generics and active pharmaceutical ingredient (API) manufacturing, said the deal was in line with its strategy to “strengthen and grow its European business and to expand in Eastern Europe.”

In the fiscal year ended March 2018, Aurobindo had sales in Europe of 577 million euros ($675 million). The deal with Apotex is valued at around 74 million euros.