HYDERABAD: Pharma main Aurobindo Pharma on Tuesday knowledgeable the bourses that it’s foraying into the Indonesian market with the acquisition of 15 formulations manufacturers from Viatris Inc and Pfizer Inc for a money consideration of US$48 million (approx. Rs 398 crore).
“The acquisition of 15 specified advertising and marketing and manufacturing associated authorizations of branded merchandise and associated model emblems from Viatris Inc / Pfizer Inc for Indonesia market supplies a superb entry platform into the fast-growing pharmaceutical market of Indonesia, the corporate mentioned in a regulatory submitting on Tuesday.
The corporate mentioned it expects normal approvals of routine nature for the completion of the transaction, which is predicted to be wrapped up by February 28, 2023.
The manufacturers being acquired by the corporate clocked revenues of US$30.5 million in 2022, US$28.3 million in 2021 and US$25.1 million in 2020, the corporate mentioned.
Aurobindo’s entry into the Indonesian market comes at a time when Indian pharma corporations are taking a look at increasing their footprint past the US market, the place margins have been below stress.
In April this yr, one other Hyderabad-based firm Natco Pharma had introduced its foray into the Indonesia market with a subsidiary firm Pt Natco Lotus Farma as a part of efforts to spice up development and profitability by foraying into newer geographies.
“The acquisition of 15 specified advertising and marketing and manufacturing associated authorizations of branded merchandise and associated model emblems from Viatris Inc / Pfizer Inc for Indonesia market supplies a superb entry platform into the fast-growing pharmaceutical market of Indonesia, the corporate mentioned in a regulatory submitting on Tuesday.
The corporate mentioned it expects normal approvals of routine nature for the completion of the transaction, which is predicted to be wrapped up by February 28, 2023.
The manufacturers being acquired by the corporate clocked revenues of US$30.5 million in 2022, US$28.3 million in 2021 and US$25.1 million in 2020, the corporate mentioned.
Aurobindo’s entry into the Indonesian market comes at a time when Indian pharma corporations are taking a look at increasing their footprint past the US market, the place margins have been below stress.
In April this yr, one other Hyderabad-based firm Natco Pharma had introduced its foray into the Indonesia market with a subsidiary firm Pt Natco Lotus Farma as a part of efforts to spice up development and profitability by foraying into newer geographies.
