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 05:50
Neurosurgical medical device maker NICO Corporation has awarded the first grant for its recently funded Investigator Initiated Study (IIS) Program to the Mayo Clinic in Jacksonville, Fla. NICO launched the IIS Program in August to offer financial...

at 05:32
GB Sciences, Inc. is proud to announce that it has signed a binding letter of intent with 4EVERGRN, LLC in Oklahoma.  This company has been awarded cultivation, processing and dispensary licenses by the Oklahoma Medical Marijuana Authority. Under...

at 05:31
Accountable Healthcare Staffing has been ranked among healthcare suppliers by Modern Healthcare's 2018 Best Places to Work in Healthcare. The complete list of this year's winner rankings is available here. Modern Healthcare published a special...

at 05:30
DelMar Pharmaceuticals, Inc. ("DelMar" or the "Company"), a biopharmaceutical company focused on the development of new cancer therapies, announced its financial results for the first quarter ended September 30, 2018. DelMar executive management...

at 05:30
Global consumption of citrus pectin is expected to reach nearly 10,000 tonnes in 2018, a marginal rise of 400 tonnes over 2017, according to Fact.MR's new study. Overall growth of the citrus pectin market can be attributed to, Considerable demand...

at 05:13
Capio AB (publ) ("Capio") has, as previously announced, applied for de-listing of Capio's shares from Nasdaq Stockholm. Nasdaq Stockholm has now approved the application and decided that the last day of trading will be 28 November 2018. For...




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