Aurobindo Upbeat On Outlook, Transfers Biologics Biz
Seeks FDA Desk Reviews For Three Units
After double-digit growth in formulation sales across geographies in the fourth quarter, Aurobindo expects to continue the momentum this fiscal year. Meanwhile, it might look for partners for its biologics business, which is now transferred to its fully owned subsidiary for $48m.
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The termination of the Aurobindo-Sandoz deal isn’t perhaps all bad news for the Indian firm and the flip side may be an improved balance sheet, according to some analysts. But the resolution of compliance issues at manufacturing facilities remains critical.
Aurobindo has received further Form 483s from the FDA, while Biocon has received an EIR for its Bengaluru facility. The FDA has also successfully concluded inspections for Indoco and Lupin, while ANI, Aptar and MicroSphere have made strategic moves.
The Indian drug maker is handing over €74m to Canada's Apotex, buying the latter's operations in Poland, the Czech Republic, the Netherlands, Spain and Belgium and adding over 200 generics and more than 80 OTC products to its portfolio.