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Aurobindo Pharma Ltd has completed the acquisition of certain commercial operations in Western Europe from Actavis plc.
In January this year, the Hyderabad-based Aurobindo Pharma had entered in to an agreement with Actavis to acquire its personnel, commercial infrastructure, products, marketing authorisations and dossier licence rights in seven European countries for €30 million. Both the companies had also inked a long term commercial and supply arrangement.
``The acquisition will make Aurobindo one of the leading Indian pharmaceutical companies in Europe with a top 10 position in several key markets,’’ Muralidharan, Senior Vice-President of European operations for Aurobindo said in a statement on Tuesday.
Aurobindo would work to combine the strength of both enterprises in these markets and to identify and maximise all opportunities. ``We will continue to collaborate with Actavis to ensure business continuity and a smooth transition. In parallel, we will work closely with the acquired management teams to achieve a rapid and successful integration,’’ he added.
Aurobindo’s scrip gained 4.67 per cent on the Bombay Stock Exchange on Tuesday to end at Rs 534.70.
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