The Hindu Business Line : Aurobindo acquires IP, marketing authorisations of TAD Italy

Hyderabad, March 24 Aurobindo Pharma Ltd has concluded a strategic deal for acquisition of intellectual property (IP) and marketing authorisations with TAD Italy, a generic company registered in Italy.

The acquisition would give Aurobindo access to more than 70 ready-to-market products, which will fast track the Hyderabad-based company’s entry into the Italian generic market.

Besides, it is expected to jump start Aurobindo’s business in Italy where the market and the regulatory procedures are considered as one of the toughest in all of the European Union (EU). The financial details of the deal were not disclosed.

“This deal will provide us with a ready local platform and will help us in immediately maximising the potential of our vast internal pipeline which is to follow in the next few months,” Mr Ashish Menocha, Regional Vice-President, Europe, Aurobindo, said in a release.

Aurobindo had already filed 22 products for registration in Italy. During the integration process, the company expects to derive maximum synergies from the acquisition by shifting the manufacturing of TADs products to its own facilities, he added.

Aurobindo has also acquired high profile over-the-counter (OTC) brands, Mapooro and Carmiooro from TAD as a part of the deal.

This was the company’s third acquisition in Europe after Milpharm Ltd in UK and Pharmacin International B.V., in Netherlands.

Such acquisitions would reduce the time to market and enhance the relationships in the generic value chain in addition to building a broad and formidable product portfolio, the release said.

Motilal Oswal Investment Advisors Pvt Ltd was the advisor to the company in the transaction, it added.

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