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Business

Aurobindo to buy Portuguese firm

by Jean-François Tremblay
January 23, 2017 | APPEARED IN VOLUME 95, ISSUE 4

India’s Aurobindo Pharma will pay $144 million to acquire the Portuguese firm Generis Farmacêutica. Both companies produce generic drugs, but Aurobindo is also back-integrated into the production of active pharmaceutical ingredients. Aurobindo expects the purchase will make it the largest supplier of generic drugs in Portugal. It plans to use the output of Generis’s plant to supply Portugal as well as other countries in Europe. Currently owned by the private equity firm Magnum Capital Partners, Generis recorded sales of $70 million last year.

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