The acquisition would creates one of the largest Indian generic pharmaceutical companies in Europe and expands Aurobindo’s existing European operations with additional capabilities in seven countries, and includes brands such as Arrow Generiques.
"We believe that the value created by the commercial operations in these seven markets will be better maximized by Aurobindo, which will gain scale, additional products and enhanced competitive market share position as a result of this transaction," said Sigurdur Oli Olafsson, president, Actavis Pharma. "This transaction will permit Actavis to focus management time and resources to support accelerated investment in driving faster growth of other markets, including Central and Eastern Europe and Southeast Asia."
Until the transaction is completed, Actavis will continue to operate the commercial businesses.
Rothschild and Latham & Watkins acted as financial adviser and legal counsel to Actavis, respectively. Jefferies International acted as financial advisor and Herbert Smith Freehills LLP as legal counsel to Aurobindo.