Arrow Generiques, the French subsidiary of Aurobindo Pharma Ltd, will be acquiring select commercial products from Teva for an undisclosed sum.
As per an agreement entered into by both companies, Arrow Generiques will acquire the right, title and interest in products, calcium and calcium vitamin D3, including the use of Orocal trademark, the Hyderabad-based Aurobindo said in a release issued here on Friday. “The acquisition will enable Arrow Generiques to continue to increase its branded products portfolio and leverage its position as a key player in the drug market,’’ the release said.
The transaction is subject to the approval of the European Commission. Following receipt of tolerances from European authorities, Arrow will integrate these products with its existing commercial operations in France. “Arrow and Teva intend to ensure continuity of the supply of the products to the market.’’
Operational in France since 2002, Arrow Generiques focusses on selling generics on the retail and hospital markets.
On Friday, Aurobindo’s scrip gained 4.07 per cent to close at ₹739.90 on the BSE.