Le Lézard
Classified in: Health, Business
Subject: CON

Apotex Focuses on High Growth Markets with Sale of European Generics Business


Sale Part of Previously Announced Plan to Assess Global Footprint

TORONTO, July 14, 2018 /CNW/ - Apotex, Canada's largest generic pharmaceutical company, has signed an agreement to sell its commercial operations and certain supporting infrastructure for its generics business in five European countries to Aurobindo Pharma Limited.  The sale will allow Apotex to focus its resources on the Americas where strong demand for its portfolio continues.

"This is a positive move for our organization and enables us to further accelerate our efforts to drive additional growth in the Americas, while also creating manufacturing capacity to meet growing demand," said Jeff Watson, President & Chief Operating Officer, Apotex.

Apotex operates its European generic pharmaceutical business through wholly-owned subsidiaries in the Netherlands, Poland, the Czech Republic, Spain and Belgium.  Pursuant to the Agreement, these subsidiaries will be sold and certain supporting infrastructure including personnel, products, marketing authorizations and dossier license rights regarding the pharmaceutical business in those countries will effectively be transferred to Aurobindo Pharma Limited, once all closing conditions, which include customary competition clearance, are satisfied.

As part of the agreement, Apotex also entered into a transitional manufacturing and supply arrangement in order to support the ongoing growth plans of these businesses.

Apotex is a Canadian based, global pharmaceutical company, employing over 10,000 people in research, development, manufacturing and distribution facilities worldwide. Apotex is a vertically integrated business that includes generic medicines, biosimilars, active pharmaceutical ingredients and innovative pharmaceuticals. It produces more than 300 generic molecules in approximately 4,000 different dosages. For more information, please visit http://www.apotex.com

SOURCE Apotex Inc.


These press releases may also interest you

at 13:18
Reich Brothers is pleased to announce the acquisition of a 228,000-square-foot heavy manufacturing facility located on 67-acres in Tulsa, OK.  The facility served as SPX Heat's main manufacturing and warehousing location in the Tulsa market with...

at 13:18
Atlantic Hurricane Season will be here June 1, and forecasters are predicting 13 named tropical storms, of which they expect five to reach hurricane status. Brightway Insurance, one of the country's largest Personal Lines insurance agencies, sends...

at 13:15
Our government strongly believes that all Canadians should have access to a safe and affordable place to call home. Seniors in Hamilton will soon have new affordable housing options thanks to the Ken Soble Tower transformation that will make this...

at 13:15
AltMed Florida has announced its first Orlando area MÜVtm Medical Cannabis Dispensary will open at 1090 S SR 434, Longwood, FL (1.5 miles east of Interstate 4 at exit 94) at 10 a.m. Friday, May 24, pending final approvals. Just north of Orlando, it's...

at 13:14
CBH Homes, sky rocketed 16 spots this week to number 37 on the top 100 Builders in the Nation as reported by Builder Magazine.  Ranked 53 last year, CBH moved up more spaces than any other Northwest or Mountain West based builders. CBH stands out...

at 13:10
Canada Economic Development for Quebec Regions (CED) Rémi Massé, Member of Parliament for Avignon?La Mitis?Matane?Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, will visit Matériaux spécialisés...



News published on 14 july 2018 at 01:00 and distributed by: