Aurobino subsidiary to acquire Generis Farmaceutica
Generis is the most sold pharmaceutical brand in Portugal, and is the #2 generic group in Portugal.
Aurobindo Pharma has signed a binding agreement by and through its wholly owned step-down subsidiary, Agile Pharma, Netherlands, to acquire Generis Farmacêutica from Magnum Capital Partners. Generis manufactures and sells pharmaceutical products in Portugal. Closing of the transaction is conditional on obtaining necessary approvals from Portuguese authorities.
The total consideration for the acquisition is €135 million. The acquisition includes the manufacturing facility in Amadora, Portugal, which has the capacity to manufacture 1.2 billion tablets/capsules/sachets annually.
This deal consolidates Aurobindo’s footprint in Portugal, which currently consists of Aurovitas, Unipessoal LDA and Aurobindo Pharma (Portugal), Unipessoal Limitada. The consolidated APL group will rank #1 in the Portuguese generic pharma market, and will have the largest generic product portfolio consisting of 271 products.
Management estimates that the net sales for the acquired business will be approximately €72 million in 2017, compared to €64.8 million in 2016. Adjusted EBITDA estimate for 2016 is €12.7 milion which is projected to improve to €15.8 million EBITDA in 2017.
Synergies from Aurobindo’s vertical integration and pipeline breadth, improvement in Amadora plant capacity utilisation by servicing both local and European markets, and advantages from being the #1 generic group in Portugal, are expected to be €2 million in 2018, €5 million in 2019, and expected to improve further thereon.
Aurobindo has been steadily expanding its European footprint since 2006, via acquisitions across several key markets, most notably in 2014 with the acquisition of Actavis’s commercial operations in seven Western European countries. The acquisition of Generis, thus, builds upon an already successful growth strategy.
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance