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.
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