Aurobindo Pharma acquires Netherlands' Pharmacin'

New Delhi, Dec 29 (UNI) Aurobindo Pharma Ltd has entered into a share purchase agreement with Jerim BV and Jonghoud International BV to acquire Netherlands-based generic pharmaceutical company, Pharmacin International BV.

Under the agreement, Agile Pharma BV, company's wholly-owned subsidiary has acquired 100 per cent shares of Pharmacin International BV from Jerim BV and Jonghoud International BV.

This is the company's second acquisition in Europe, after acquiring UK's Milpharm Ltd in early 2006.

''Such acquisitions reduce the time to market and enhance the relationships in the generic value chain in addition to building a broad and formidable product portfolio,'' a company statement said.

Pharmacin is a profit making generic pharmaceutical company with a sale of over euro six million for the year ended December 2006, with a CAGR of over 30 per cent.

It is engaged in the business of supply and licensing of generic pharmaceuticals in Netherlands and in select key markets in Europe and owns several product dossiers/market authorisations and IPR.

Pharmacin has a broad product portfolio in three key segments - CNS, CVS and Gasteroenterologicals and the dossiers support over 200 product registrations for 63 customers in Netherlands and Europe.

In addition, Pharmacin has continuously invested in enhancing the product portfolio and certain key product registrations are awaited in the coming months augmenting the business, the statement added.

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