Aurobindo Pharma eyes European business of Apotex

Aurobindo Pharma has expressed early stage interest in the European business of the $1.7-billion privately held Canadian drugmaker Apotex. Known for its highprofile litigations in the US against MNC pharma players, Apotex has put on the block its European operations as part of a wider consolidation effort, said industry sources.

The deal may be valued at around $100 million and fits in with Aurobindo’s strategic road map of upping its presence in eastern Europe through bolt-on acquisitions, two sources told ET. I-bankers did not rule out other Indian bidders, but no clear names were disclosed.

Aurobindo did not respond to an email from ET till press time. Response from Apotex is awaited to a detailed questionnaire sent over a week ago.