Aurobindo Pharma has announced that the company has entered into a strategic deal with TAD Italy, a generic company registered in Italy for acquisition of intellectual property and marketing authorizations.
The company has also acquired high profile OTC brands--Mapooro and Carmiooro--from TAD as a part of this deal.
This is the company's third acquisition in Europe, after buying Milpharm in UK and Pharmacin International BV, in Netherlands. However, no financial details were provided by the company.
The current acquisition will give Aurobindo an access to more than 70 ready to market products which will fast track company's entry into the Italian generic market.
Further, this strategic acquisition is expected to jump start the business for Aurobindo in Italy where the market and the regulatory procedures are considered as the one of the toughest in European Union.
Motilal Oswal Investment Advisors Pvt. Ltd was the advisor to the Company on the transaction.