Aurobindo Pharma and Intas are reportedly among the final contenders for the UK and Irish portfolio of Israeli generics behemoth Teva, put up for sale to comply with European anti-trust regulations. Both the entities have submitted their binding offers of around $1 billion along with firm financing commitments.
Teva is selling assets as part of a broader divestiture process to comply with the anti-trust regulations for its $40.5 billion acquisition of Allergan Plc’s generics business that was announced last year.
Aurobindo Pharma is engaged in manufacturing pharmaceutical products. It offers active pharmaceutical ingredients, intermediates and generic formulations like astemizole, domeperidone and omeprazole; anti-infective, oral and sterile antibiotics, pain management and osteoporosis segments.
