The Indian pharma co has initiated Phase II of Ireland-based firm's intergration; process will last for next 18 to 24 months
Generic drug manufacturer Aurobindo Pharma has initiated the process of bringing in some of the products of its acquired Actavis portfolio to India over the next 18-24 months, said a senior company official.
In January 2014, Aurobindo had inked a long-term commercial and supply agreement with Ireland-based Actavis to acquire its personnel, commercial infrastructure, products, marketing authorisations and dossier licence rights in seven European countries for €30 million.
In April last year, the company had announced the completion of the acquisition of certain commercial operations in Western Europe from Actavis Plc.
In a recent earnings call with analysts, Aurobindo Pharma managing director N Govindarajan said, "The Phase I was to integrate together Aurobindo Pharma and Actavis. That phase has been completed. So we now have one country, one leader, one team. The second phase has just begun at the end of last quarter of bringing products into India, which will last for next 18 to 24 months. And we had said it could be close to 50% portfolio coming out of India."
The company had earlier indicated that the Actavis integration will see three phases. While the first phase was about integrating operations of Actavis with Aurobindo, the second phase is to replace some of Actavis products portfolio with low cost high margin Aurobindo products. And the third phase would be to bring some molecules of equivalent portfolio into India to reduce costs and enhance the margins.
Aurobindo's product portfolio is spread over 6 major therapeutic/product areas encompassing antibiotics, anti-retrovirals, CVS, CNS, gastroenterologicals, and anti-allergics. On the other hand, Actavis products range is in therapeutic categories, including antibiotics, anti-inflammatories, oncology medications, cardiovascular treatments, respiratory products, dermatology products and treatments for central nervous system and metabolic disorders, etc.
The company has reported on Thursday a 19% drop in its consolidated net profit to Rs 404 crore for the quarter ended March 31. The total revenue during the period increased 35.7% to Rs 3162 crore.
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