News: Aurobindo to buy Dutch formulations firm

(RTR 29/12/2006) Mumbai - Drug maker Aurobindo Pharma Ltd. is likely to announce on Friday the acquisition of a Dutch formulations firm for more than $20 million, the Daily News & Analysis newspaper said citing industry sources.

The target company had several market authorisations and would enable Aurobindo to expand faster in Europe, the paper said.

Aurobindo officials could not be immediately reached for comment.

"The board of directors has already approved the proposal and the deal will be announced on Friday subject to finalisation of the price," the paper quoted the sources as saying.

This would be Aurobindo's second acquisition in Europe after its February acquisition of UK-based generic drug maker Milpharm Ltd.