Aurobindo Pharma and Intas are in the race to buy UK-based Mallinckrodt's generic drugs business in the US valued at USD 2 billion, this will be the biggest ever overseas acquisition for any Indian drug maker.
The last couple of years have been very unsettling for the sector. It has declined by 25 percent from five-year (2012-16) Compound Annual Growth Rate of 12 percent.
Indian pharmaceutical companies Aurobindo and Intas are among the final contenders for Teva‘s generic drug business in UK. The strategy will help the companies expand their European business.