Aurobindo unit buys Dutch firm Pharmacin

Netherlands-based Agile Pharma BV, a wholly-owned subsidiary of Aurobindo Pharma, has entered into a share purchase agreement with Jerim BV and Jonghoud International BV to acquire generic pharmaceutical company Pharmacin International BV.

According to a release issued by Aurobindo to the BSE, Agile Pharma BV has acquired 100% shares of Pharmacin International from Jerim and Jonghoud International.

Pharmacin had sales of over euro 6 million for the year ended December 2006 with a CAGR of over 30%. Pharmacin is engaged in the business of supply and licensing of generic pharmaceuticals in Netherlands and in select key markets in Europe. Pharmacin owns several market authorisations and IPR, the release said.

"This is Aurobindo's second acquisition in Europe after acquiring Milpharm in UK in early 2006," the release added.