(AFX UK Focus) 2008-03-24 08:37 GMT: India”s Aurobindo Pharma says buys TAD Italy IP, marketing April 1, 2008
Posted by Business Marketing in : Business and Marketing , trackback(AFX UK Focus) 2008-03-24 08:37 GMT: India”s Aurobindo Pharma says buys TAD Italy IP, marketing rights.
MUMBAI (Thomson Financial) - India-based Aurobindo Pharma Ltd said it acquired the intellectual property and marketing authorisations of Italian generics company TAD Italy”s for an undisclosed sum.
Sources close to the development told Thomson Financial News that the deal was close just ‘under 10 mln usd’.
With this deal, the company said it hopes to ‘jump start’ its operations in Italy, where it has already filed 22 products for registration. Aurobindo expects to leverage synergies from the deal by shifting manufacturing of TAD”s products to its own facilities, the release said.
The transaction also brings TAD”s over the counter (OTC) brands Mapooro and Carmiooro into Aurobindo”s fold.
At 1.00 pm local time, Aurobindo Pharma shares were trading 1.33 pct lower at 245.20 rupees on the Bombay Stock Exchange, while the benchmark Sensex was 0.52 pct higher at 15,073.
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