MUMBAI (Reuters) - Indian drugmaker Aurobindo Pharma Ltd said it agreed to buy Actavis Plc's commercial operations in seven Western European countries for about 30 million euros, in a bid to increase its international footprint.
Aurobindo said the deal would include commercial infrastructure, products and marketing authorizations in the seven countries. The two companies will also enter a long-term commercial and supply deal to support the growth plans of the businesses.
Although the businesses are currently loss-making, Aurobindo expects them to return to profitability, the company said in a statement.
(Reporting by Aradhana Aravindan; Editing by Clarence Fernandez)
You’ve hit your limit of 5 free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app