New Delhi, Mar 24 (UNI) Aurobindo Pharma Ltd today said it has entered into a strategic deal with TAD Italy for acquisition of intellectual property and marketing authorisations, which will provide access to 70 ready-to-market products and fast track the company's entry into the Italian generic market.
''This strategic acquisition is expected to jump start the business for Aurobindo in Italy where the market and the regulatory procedures are considered as the one of the toughest in the European Union,'' the company said in a statement.
Aurobindo has already flied 22 products for registration in Italy and also acquired high profile OTC brands Mapooro and Carmiooro from TAD as part of this deal.
After acquiring Milpharm Ltd in UK and Pharmacin International BV in Netherlands, this is company's third acquisition in Europe.
The company believes that such acquisitions reduce the time to market and enhance the relationships in the generic value chain besides building a broad and formidable product portfolio, the statement added.
UNI SG ARB DB1323