Aurobindo Acquires Pharmacin International
January 2007 | FDI AlertIndian drugmaker Aurobindo has increased its presence in Europe after acquiring Netherlands-based generics firm Pharmacin International for an undisclosed fee. Pharmacin reportedly has turnover of around EUR6mn (US$8.1mn), with a compound annual growth rate (CAGR) of over 30%. Although the acquisition will not initially make a huge difference to Aurobindo's top-line (the company had sales of US$332mn in 2006), it will help it to expand its presence throughout Europe, which due to increased pricing pressure in the US, is becoming an increasingly important market. What is more, Pharmacin's product portfolio, which includes offerings in therapeutic categories such as cardiovascular, HIV/AIDS and gastroenterology, should provide a good fit for Aurobindo.
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