Aurobindo to raise $200 mn in FCCB

New Delhi, Apr 3 (UNI) Hyderabad-based Aurobindo Pharma Ltd today said it will raise up to 200 million dollars in foreign currency convertible bonds to fund overseas acquisitions and other growth requirements.

The company recently acquired the UK-based Milpharm in an all-cash deal for an undisclosed consideration.

According to reports, Aurobindo Pharma is looking at four-five acquisitions of smaller sizes of up to 50 million dollar each in the European market. This is to complement the substantial manufacturing infrastructure it had already created in India.

Aurobindo has also received approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application for anti-bacterial cefuroxime axetil tablets.

Cefuroxime Axetil tablets are indicated for the treatment of patients with infections caused by susceptible strains of designated organisms in the following diseases: Pharyngitis and Tonsillitis, Lower Respiratory Tract Infections, Urinary Tract Infections and Skin Structure Infections.

The size of generics business of Cefuroxime Axetil 125/250/500 mg is estimated at around 50 million dollars.

With this Oral Cephalosporin approval, the Company's product basket for the US market has increased to 13 (Final approvals).

Apart from this, the Company has 10 Tentative Approvals for the US market.

Cefuroxime Axetil Tablets USP, 125 mg (base), 250 mg (base), 500 mg (base) is the generic version of Glaxo Wellcomes Ceftin.

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