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www.aurobindo.com |
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Hyderabad, 9th February, 2006 |
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AUROBINDO PHARMA MAKES FIRST
ACQUISITION IN EUROPE ACQUIRES MILPHARM IN UK |
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This strategic acquisition to
gain immediate access to European markets |
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Aurobindo Pharma Ltd is pleased to announce
that, through its wholly owned subsidiary Aurex
Generics Limited, UK has entered into Share
Purchase Agreement with Whyte Group Limited and
Iracot Limited to acquire UK based Milpharm
Limited, the generic formulation
pharmaceutical company engaged in selling
generic formulations, mainly in the UK market. |
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Under the terms of the share purchase agreement,
Aurobindo Pharma Limited has acquired 100%
shares of Milpharm Limited from Whyte Group
Limited and Iracot Limited. |
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Milpharm Ltd., is a profit making generic
formulation company, owns over hundred approved
Marketing Authorizations (MAs) by Medicines and
Healthcare Products Regulatory Agency, UK (UK
MHRA). |
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Milpharm recorded a sale of £7.7 million for the
12-month period ended 30th September 2005. The
MAs are well diversified into various segments –
CNS, CVS, GI, Diabetology, Anti fungal, Anti
bacterial, Oncology, Macroliads, Cephs and SSPs,
anti diabetic, NSAIDS etc. |
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Milpharm has established relationships in the
generic pharmaceuticals and Aurobindo expects to
build on these relationships to participate in
the generic pharmaceuticals value chain.
Aurobindo expects to build on the platform of
Milpharm in strengthening the relationships and
augmenting the product portfolio for its
customers. |
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Aurobindo Pharma had concluded the 0%, Foreign
Currency Convertible Bonds (FCCB) issue of USD
60 million in August 2005. Part of the proceeds
are to be used for overseas acquisitions. |
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This is Aurobindo’s first acquisition in Europe.
The Company is pursuing inorganic growth in
Europe to reduce the time to market and enhance
the relationships in the generic value chain. |
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About Milpharm: |
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The company had been set up on April 11, 1997 as
a private company limited by shares. It
possesses 103 MAs (Formerly called a ‘Product
Licence’) issued mainly by UK MHRA for generic
pharmaceutical products, which are valid and
subsisting. Apart from these, 16 applications
have been submitted to MHRA and are in various
stages of being granted. |
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About Aurobindo Pharma Limited: |
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Aurobindo Pharma Limited (www.aurobindo.com),
headquartered at Hyderabad, India, manufactures
generic pharmaceuticals and active
pharmaceutical ingredients. The company has
received approvals for several facilities from
leading regulatory agencies like US FDA, UK MHRA,
WHO, Health Canada, MCC South Africa. The
company’s robust product portfolio is spread
over 6 major therapeutic/product areas
encompassing (Antibiotics, Anti-Retrovirals,
CVS, CNS, Gastroenterologicals, and Anti-Allergics)
around 65 APIs in the non-antibiotics and 55
APIs in the antibiotic segment. The Company is
marketing these products globally, in over 100
countries. |
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PRESS
ROOM
