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Aurobindo Pharma through its subsidiary Acrotech Biopharma LLC has completed the acquisition of portfolio of seven marketed oncology injectable products, intellectual property and commercial infrastructure from Spectrum Pharmaceuticals Inc.
The company had mentioned that the acquisition was for an upfront purchase price of $160 million in cash plus up to $140 million (totalling approx Rs 2,125 crore) on achieving regulatory and sales-based milestones.
Acquired portfolio includes seven branded oncology injectable products which are currently being marketed. The acquisition also brings-in an experienced branded commercial infrastructure in the US.
The portfolio is expected to generate a revenue of around $100 million for the first 12 months after completion of the transaction.
The acquisition also brings-in an experienced branded commercial infrastructure in the US. Acrotech Biopharma LLC will be acquiring the portfolio on a debt free and cash free basis. This acquisition is in line with our strategy to commercialise innovative proprietary medications.
The acquisition will help Aurobindo Group to enter the branded oncology market with a range of products which are well recognised by the oncology community. Aurobindo Group will also acquire a well-established and experienced branded commercial infrastructure to continue commercialising these brands.
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