Indians from Aurobindo Pharma want to acquire the Portuguese pharmaceutical company Generis for 180 million euros. But there are more interested parties.
The Indian pharmaceutical company Aurobindo is interested in acquiring Generis, a Portuguese drug maker headed in Amadora, for around 180 million euros (circa 200 million dollars), according to Indian newspaper The Economic Times’s Thursday edition.
The acquisition deal has been on the table for a few months, but the Indian group is not the only one attempting to acquire the firm, since there are more parties interested. “The final result is not very clear”, stated to the Indian newspaper a source close to the process. ECO attempted to contact Generis, to no avail.
Generis is headed in Venda Nova, Amadora (12 kilometers/7.5 miles away from Lisbon); it develops anti-infective, respiratory, antidiabetic and dermatological generic medicinal products, and it provides, as well, production and analytical services in the pharmaceutical industry. According to the Economic Times, the Portuguese firm has generated 54 million euros (circa 60 million dollars) in sales during 2015.
Aurobindo is among the Indian pharmaceutical companies aiming to grow through the acquisition of international enterprises. Two years ago, Aurobindo acquired the European Actavis, and is planning to keep the expansion in that continent.
In a recent presentation to investors, the Indian enterprise mentioned that the slow diffusion of generic medicines in Italy, Spain and France offers a growth potential as those types of drugs considered ‘white label’ are increasingly gaining more acceptance.