New Delhi, Jun 22 (PTI) Aurobindo Pharma on Monday said its arm Aurobindo Pharma USA, Inc has received approval from the US Federal Trade Commission (FTC) for its USD 250 million acquisition of Lannett Company LLC.
The transaction, valued at USD 250 million on a cash-free, debt-free basis and inclusive of normalised working capital, is expected to close before the end of this month, Aurobindo Pharma said in a regulatory filing.
Lannett, a Pennsylvania-based generic pharmaceutical company, specialises in the development and commercialisation of a diversified portfolio of complex, non-opioid controlled substances, the filing said.
The acquisition will significantly expand Aurobindo USA’s product offering in this segment while adding a US-based manufacturing
facility to its network, it added.
“This acquisition represents a highly compelling strategic and financial opportunity for Aurobindo USA. It accelerates our revenue growth, strengthens our US-based manufacturing capabilities, and enhances our position in complex, non-opioid controlled substances,” Aurobindo Pharma USA CEO Swami S Iyer said.
The transaction is expected to be immediately accretive to Aurobindo Group’s earnings per share, the company said.
It will also enhance the company’s portfolio with a differentiated pipeline of complex generics and controlled substances, supporting sustainable long-term growth, Aurobindo Pharma said.
“Aurobindo’s market reach and resources will help make our portfolio of medicines even more affordable and accessible for patients everywhere,” Lannett Company CEO Tim Crew said.
Lannett’s manufacturing site in Seymour, Indiana, has the capacity to scale production to approximately 4 billion doses annually, strengthening Aurobindo USA’s domestic manufacturing footprint, the filing said.
This enhanced capacity aligns with US policy priorities aimed at improving supply chain resilience and increasing domestic pharmaceutical production, it added. PTI RKL DRR
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