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India's Aurobindo to buy some Actavis businesses in Europe

Source : REUTERS
Last Updated: Sat, Jan 18, 2014 08:30 hrs

MUMBAI, Jan 18 (Reuters) - Indian drugmaker Aurobindo Pharma Ltd said it agreed to buy Actavis Plc's commercial operations in seven Western European countries for about 30 million euros ($41 million), in a bid to increase its international footprint.

Aurobindo said the deal would include commercial infrastructure, products and marketing authorizations in the seven countries. The two companies will also enter a long-term commercial and supply deal to support the growth plans of the businesses.

Although the businesses are currently loss-making, Aurobindo expects them to return to profitability, the company said in a statement.




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