Aurobindo Pharma buys Dutch firm Pharmacin

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Aurobindo Pharma buys Dutch firm Pharmacin

In its second acquisition in Europe this year, Aurobindo Pharma Ltd has bought the Netherlands-based generic pharmaceutical company, Pharmacin International.

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In its second acquisition in Europe this year, Aurobindo Pharma Ltd (APL) has bought the Netherlands-based generic pharmaceutical company, Pharmacin International.

To facilitate the buyout aimed to expand its presence in the lucrative European markets, APL has through its wholly owned subsidiary Agile Pharma, Netherlands entered into share purchase agreement with Jerim and Jonghoud International of the Netherlands.

Under the terms of the share purchase agreement, Agile Pharma has acquired 100% of the shares of Pharmacin International from Jerim and Jonghoud International. Pharmacin is a profit-making company with a turnover of over 6 million euros for the year ending December 2006 and a CAGR of over 30%.

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