MUMBAI: Aurobindo Pharma Limited has completed the acquisition of marketed portfolio from Spectrum Pharmaceuticals, a bourse filing said on Saturday.
Aurobindo Pharma Limited had earlier announced proposed acquisition of seven marketed oncology injectable products, intellectual property and commercial infrastructure from Spectrum Pharmaceuticals Inc., , a US based, global branded oncology company.
Spectrum has as part of its major strategic shift to focus on novel oncology drug development and commercialization of its two late-stage pipeline products, carved out its commercial business inclusive of seven marketed oncology injectable products, intellectual property and commercial infrastructure for sale.
The net sales of the acquired business were around $116.2 million for the calendar year ended December 2017 and estimated revenues in 2018 are $105 million.[the_ad id=”32940″]Cost of acquisition or the price at which the shares are acquired is $160 million up-front cash payment and up to $140 million on achieving certain milestones.
The acquisition provides Aurobindo with new opportunities to grow the business by launching innovative branded products in oncology, readily available infrastructure for Oncology brands, experienced manpower in branded Oncology, launch platform for future products, opportunity to develop follow on branded products, future synergy with internal development and external products leveraging this commercial infrastructure and support.