Category Tenders

Submitted by: M&A Critique

At a time when Aurobindo Pharma gets nearly twothird of its revenues from abroad, it is quite natural for the company to aggressively expand its operations globally. The company bought Dublinbased Actavis Plcs which has commercial operations in seven western European countries for about 30 million euros, in a bid to increase its international footprint.

Aurobindo Pharma Limited is a pharmaceutical manufacturing company headquartered at Hyderabad, India. The company manufactures generic pharmaceuticals and active pharmaceutical ingredients. The companys area of activity includes six major therapeutic/product areas: antibiotics, antiretrovirals, cardiovascular products, central nervous system products, gastroenterological’s, and antiallergics. The company markets these products in over 125 countries. Its marketing partners include AstraZeneca and Pfizer. Aurobindo Pharma was incorporated as a private limited company and was converted into a public limited company with effect from April 30, 1992. The chief promoters of the company are P.V. Ramaprasad Reddy and K. Nityananda Reddy.

The company has agency setup at Srilanka, Thailand, Russia and Nigeria for marketing its products. It proposes to set up its own marketing offices at Hong Kong, Moscow, and Nigeria to promote bulk drug sales. In 1997, Glaxo (India), the Indian subsidiary of the UKbased multinational, negotiated with Aurobindo Pharma for an alliance to meet its global bulk drug requirements. The annual capacities now stand at 300 million of capsules and 840 tonnes of bulk drugs. Aurobindo Pharma Ltd, the largest domestic manufacturer of penicillinbased bulk antibiotics, plans to form joint ventures in Brazil and China by the end of financial year 19992000 (AprilMarch).

The company commenced operations in 198889 with a single unit manufacturing SemiSynthetic Penicillin (SSP) at Pondicherry. It became a public company in 1992 and listed its shares on the Indian stock exchanges in 1995. In addition to being the market leader in SemiSynthetic Penicillins, it has a presence in key therapeutic segments such as neurosciences, cardiovascular, antiretrovirals, antidiabetics, gastroenterology, and cephalosporins, among others. Aurobindo Pharma features among the top 10 companies in India in terms of consolidated revenues. Aurobindo exports to over 125 countries across the globe with more than 70% of its revenues derived out of international operations.

ACTAVIS PHARMA:

Actavis Pharma develops, manufactures and markets generics, branded generics, legacy brands and Overthe- Counter (OTC) products in more than 60 countries around the world. The thirdlargest generic pharmaceutical company in the United States with approximately 10% market share, Actavis Pharma is also in the top 3 in 12 global markets, the top 5 in 16 global markets and in the top 10 in 33 global markets. Actavis has operations in more than 60 countries and is among the leaders in key markets including the United States, Canada, Western Europe, Central and Eastern Europe, Russia, Southeast Asia and Australia.

DEAL/TRANSACTION:

Aurobindo has been actively buying firmsercial in India and with Actavis, it will be the firms first overseas acquisition in more than six years. The deal would include comm infrastructure, products, and marketing authorizations in these seven countries. The two companies will also enter a longterm commercial and supply deal to support the growth plans of the businesses.

AUROBINDO PHARMA ADVANTAGE:

The acquisition will make Aurobindo Pharma one of the leading Indian pharmaceutical companies in Europe. Since 2006, the company has been steadily expanding its European footprint through an increasing presence in the UK, Spain, and Germany. The acquisition will enable Aurobindo Pharma to achieve critical mass in Western Europe with a top 10 position in several key markets.

Aurobindo said the deal would include commercial infrastructure, products (i.e. generic products), marketing authorisations and dossier license rights in the seven countries (viz. Belgium, Germany, Italy, France, Portugal, Spain and the Netherlands). This transaction will complement strategy of pursuing organic growth along with valuecreating acquisitions within served markets and adding complimentary growth platforms to provide scale and revenue diversity.

Although the businesses are currently lossmaking, Aurobindo expects them to return to profitability in combination with its vertically integrated platform and existing commercial infrastructure. The acquisition expands Aurobindos frontend operations into five segments (generics, prescription products, overthecounter products, hospital products and generics tenders) with approximately 1,200 products and an additional pipeline of over 200 products. The value created by the commercial operations in these seven markets would be better maximized by Aurobindo, which will gain scale, additional products, and market share.

The companys management believes that the acquisition of Actavis will give the company a ready-made hospital sales infrastructure where the Hyderabadbased company will be able to launch its own injectables and specialty portfolio throughout the countries in Western Europe. The management said that they have carefully reviewed the Actavis European operations and concluded that with cost competitiveness and group structure, they could significantly capitalise Actaviss strong market position in these Western European countries and improve profitability, thereby accelerating their strategy of becoming a significant Gx player in Europe. Aurobindo takes a disciplined approach to acquisition with clearly defined strategic and financial criteria and is committed to maintaining a prudential capital and debt structure. This acquisition will give Aurobindo quite a few active pharmaceutical ingredient (API) producing units, which is in the line with the companys plans to vertically integrate their injectables business by picking up production units as evident from its recent purchase of Hyacinths Pharma.

RECENT DEAL AND VALUATION:

In the domestic market, Aurobindo acquired Hyacinths Pharma Pvt Ltd, which produces active pharmaceutical ingredients, but this was at the undisclosed amount. By picking a 25 percent stake in Silicon Life Sciences Pvt Ltd, it turned a joint venture with Trident Chemphar Ltd into a whollyowned subsidiary. Aurobindo Pharma did not disclose how much the company is planning to invest for this transaction either.

Aurobindo Pharma is said to be in talks to buy one or two units. Management estimates the net sales for the acquired businesses would be around Euro 320 million in 2013 with a growth rate of over 10% yearonyear. The deal is valued at the 0.10 times of the sale value. As the current operation of the units acquired is negative, so the deal is the lower value. The Indian pharmaceutical firm will be financing the purchase with its own cash, so no debt overburden due to this deal. What to see is whether the Aurobindo can fructify this.

The acquisition of current European businesses is a value enhancing and forwardlooking initiative for Aurobindo and will help them in backward integration of sterile injectables. This will add to their focus on growth initiatives in Europe and international markets, which together are expected to be key drivers for future growth.

CONCLUSION:

As Aurobindo Pharma has boosted its API portfolio, by acquiring commercial operations in seven western European countries along with previous ones i.e. Andhra Pradesh based Hyacinths Pharma and Silicon Life Sciences Private Limited.

Similar deals which have been recently seen in India in this space include; Indian publicly listed pharmaceutical firm Lupin Ltd has acquiring Netherlandsbased injectable firm Nanomi BV for an undisclosed amount, Arkray Healthcare acquiring the invitro diagnostic business of Surat-based Span Diagnostics for an estimated INR. 73.4 Crores; Torrent Pharmaceuticals had acquired the branded domestic formulation business of Elder Pharma in India and Nepal for a total of INR 2004 crore and Cipla acquiring South Africabased Cipla Medpro for US $512 million. Can these deals be in response to the recent imposition of ban on Ranbaxy Laboratories (from shipping drugs and raw ingredients from its Toansa plant in Punjab to the US market), read along with several other Indian pharmaceutical companies received warning letters from the USFDA, including Wockhardt, and RPG Life Sciences? Because considering current scenario may Indian Pharma Companies are trying to enter US markets (with clean chit from USFDA) through acquiring foreign facilities/ APIs. This seems to have worked in the case of Aurobindo as well, because soon after officially announcing the acquisition of infrastructure facilities in Western Europe, from Actavis a USbased company, it got its pending approvals sanctioned from USFDA. So, can this be a coincidence or a well-planned strategic move!

About the Author: M&A Critique is the only magazine, News published from India which gives M&A News, Mergers and Acquisitions News, Analysis, Restructuring, Takeovers, and JV.Read More on –

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Early Pregnancy Symptom

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Kelan GradyPregnancy calls for one of the most beautiful phase in a woman’s life being accompanied by each early pregnancy symptom. These pregnancy symptoms have always been a source of joy as well as often anxieties. Many women are unaware of early pregnancy symptoms and what development each symptom indicates. Moreover, to start planning for a family with your new baby, you must be knowledgeable about pregnancy symptoms and to what extent they are normal.

Missed periods – many women feel tizzy and anxious when periods have crossed due dates. Missed period, according to the most of the individuals and pregnant women is a prominent indication of pregnancy. However, a missed period may follow other factors as well, such as certain medications or side effects of medical treatments, stress etc. Therefore, consult your doctor immediately when your period is overdue whether it is an early pregnancy symptom or not.

Spider Veins – Appearance or the veins surrounding chest and upper arms getting prominent is one of the very unusual early pregnancy symptoms. This is one symptom what most women hate and fret over. However, doctors suggest there is nothing to get apprehended about the spider veins as it simply results from an increased blood flow in the body and then being carried over to different vital areas of the body.

Nausea or vomiting is one early pregnancy symptom that appears in the very early stages of the pregnancy. This is also known more popularly as morning sickness. There are instances when this early pregnancy symptom occurred so early that the women could not realize it and thought that this is happening because of the food poisoning or cold effect. Nausea happens because the ability of sensing the smell and taste of the pregnant women gets increased and she can feel the sensation of nausea even with the smell of tea and coffee.

Frequent urination and breast tenderness are also early pregnancy symptoms, frequent urination usually occurs in the early stages of pregnancy. Unlike normal situations, you find yourself running to the toilet more often and there is not respite at night also. It is common complaints of women to their doctors that their breasts and nipples are becoming extremely tender and the nipples are enlarging.

Tender Breasts – If after a few days you start noticing pain in breast along with a little swelling and tenderness, you must consider this as one of the strongest early pregnancy symptoms. Some may observe their veins surrounding chest areas seem highly visible and the areola tend to become darker in color along with tender breasts.

Apparently, this very early pregnancy symptom – cramping gives no reason to be apprehensive about, rather gives positive indication of successful conceiving, instead. Doctors suggest women who are anticipating pregnancy to look for this symptom to arrive. However, cramps felt during the normal menstruation resembles cramping sensation felt at the onset of pregnancy, therefore, some women find it difficult to detect pregnancy through this symptom.Read about study programs abroad. Also read about web design career and ornithology

.

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A Tender Knee Cap Is The Worst! – Special Report – Braces For Support

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Andrew Sims

Chondromalacia Patella is a disease of the knee characterized by the softening of the cartilage of a tender knee cap. It is sometimes referred to as “anterior knee pain”. This is a general term for a condition where the cartilage surface of the patella (knee cap) is softened. This medical condition may be caused by many factors including abnormal pressure across the joint surface or hormonal changes in the body.

1.) Signs and Symptoms of Chondromalacia PatellaThe pain that is associated to Chondromalacia Patella is usually located over the front of the knee cap. It can be described as a deep aching pain. This pain can be felt most intensely when the knee is bent for an extended period of time, and can be accompanied by swelling issues. The pain can get even worse during activities such as squatting, kneeling or stair climbing, either up or down stairs.Some patients have reported a grinding feeling in their kneecap stating that they can feel tender as well. This problem affects more females than males especially after a growth spurt where the knee must carry more weight.Experts usually refer to the precursor of this medical condition as “excess lateral pressure syndrome.” This is defined by the condition where the tender knee cap tends to sit too far out to the side of the knee. This problem is usually predisposed by the shape of the bone and genetics. This is where the knee cap is most tender when pushing on its outside, or lateral, surface.2.) Treatment OptionsA.) Can Surgery Be The Answer ? – Many physicians agree that a tender knee cap that is caused by Chondromalacia should first be treated by conservative means. When treating a tender knee cap, surgery is one of the last options to be considered. Everyone is different, therefore each may exhibit different symptoms. Your physician, in a severe case may recommend surgery.B.) Do Knee Braces Work ? – The use of a knee support to help control the patella can be extremely useful. Almost all of the braces are not heavy and offer the needed support to a tender knee cap while you participate in activities of daily living. They are not very costly, and will also allow for a health range of motion.3.) Controlling the Pain due to a Tender Knee CapA. ) Ice, or cold therapy, is an effective way to relieve the pain caused by the disease. However, you should be careful in the manner in which you apply ice. If you apply it for more than 5 minutes at a time, it could cause problems. Use an appropriate device which can be used to cool your joint for longer periods.B. ) Over the counter pain medications, in some cases, can be used to ease the discomfort you may be feeling. This type of drugs includes anti-inflammatory medications like ibuprofen and naproxen and pain medications like acetaminophen. The supplement glucosamine sulfate can also have some beneficial effects when used by patients suffering from the disease. However, you have to use glucosamine sulfate continuously for at least two months before it can manifest its full effect. – See your physician for details on your specific requirements.C. ) Knee Support : As mentioned earlier in this article, one of the best ways to provide stability during treatment is by bracing. Special knee braces can provide pain relief by stimulating some of the nerve fibers making your joint more stable and secure.Aside from being used as a supportive device in the treatment of chondromalacia, knee braces may help to better position your patella in its groove so that it “tracks” more centrally. This can greatly help at relieving the pain. Specially designed knee braces help your patella tracking and are exceptionally useful for people with excessive lateral pressure syndrome that causes intense pain on the outer and undersurface of the tender knee cap.

If you are tired of having knee pain then you should check us out online today at

drbraceco.com

Several affordable knee braces are available, which can give you the meaningful support that your knees need.

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The Great Martina Navratilova

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Jonathon HardcastleMartina Navratilova is widely regarded as the greatest female tennis player in the history of the game. She captured 18 Grand Slam singles titles and 40 Grand Slam doubles titles.

She was born in Czechoslovakia on October 18, 1956 and at age 18 defected to the United States in 1975. She was granted US citizenship in 1981. Her given name was Martna Subertova but her parents divorced when she was three and her mother remarried a man named Miroslav Navratil, who would later one become her very first tennis coach. Martina later on adopted her stepfather’s name and added the feminine suffix ova.”

By the time she was 15, Navratilova was making her mark on the tennis scene. She won the Czechoslovakian national tennis championship in 1972 and turned professional the very next year at age 16. Her first professional singles victory came in 1974 in Orlando, Florida.

She is best known as a strong left-handed serve-and-volleyer with magnificent volleying skills and an aggressive and powerful game. Her excellence on the court raised the quality of the women’s game to new heights. Early in her career, Navratilova was on the overweight side and received some sharp remarks from the press for it. However, showing her firm determination, Navratilova soon whipped herself into shape with a punishing fitness routine that she maintained throughout the rest of her career. Eventually, a high level of conditioning soon became a hallmark of her game.

In 1978, she won her first Grand Slam singles tournament at Wimbledon, defeating Chris Evert in three sets in the championship. Her victory propelled her to the top of the women’s rankings and she was named the number one female tennis player in the world for the first time. Evert and Navratilova would meet again in the Wimbledon finals a year later and Navratilova would once again prevail.

In 1981, Navratilova bagged her third Grand Slam singles title, once again by defeating Evert in the finals, this time in the Australian Open. In 1982, she would go on to win both Wimbledon and the French Open.

By the mid-1980s, Navratilova hit her stride and embarked on her domination of the women’s tennis scene. After losing the French Open in 1983, she would go o to win all three remaining Grand Slam tournaments that year Wimbledon, the US Open and the Australian Open. Amazingly, her defeat at the season-opening French Open was her only loss for that season and she went 86-1 win-loss for the year. That is the best-ever winning percentage for a professional tennis player for a single season.

Jonathon Hardcastle writes articles on many topics including

Tennis

,

Golf

, and

Recreation

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How To Give A Back Massage

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Kevin PedersonWith fast paced lives and the continuous chase to meet deadlines, the tired mind and body tends to seek out for a stress buster. People bogged down by stress find it affecting not only their minds but their bodies as well.

Massage helps you eliminate stress to bring about a relaxed you. It is a relaxing experience by artistic hand strokes on the body to rejuvenate the mind and body and eliminate stress scientifically.

To give a back massage, follow these steps.

– Ask the person to lie face & belly down on flat surface with his/her head turned to one side. Avoid straining your back when you giving a massage. Stand or kneel beside the lying person

– Start off gently by spreading oil over the entire back, so that your hands dont’ stick to the massage receiver’s back.

– Begin with light strokes at the base of the neck. Move your hands on the either side of the spine, applying gentle pressure. Rub up and down the length and sides of the back. Repeating this several times starts the relaxation process.

– Apply the fleshy part of your thumbs to the shoulder blades on either side of the spine at mid back. Move up to the base of the neck by applying small outward strokes. Apply pressure away from the spine.

– After the warm up, move to the spots that feel tight or hard under your hand. Again with the fleshy part of your thumb, work in small circles. Adjust the pressure accordingly to serving the purpose of relaxation. This will loosen up the tight spots.

– Next pay full attention to the shoulder area. Place your palm on one of the shoulder blades, shaking it gently by moving your palm back and forth. This will create a nice loose movement of the shoulder blade and arm. Repeat on the other side.

– Next move to the bottom of the shoulder blade, near the spine. With your thumb, push all the way across the shoulder blade from the spine applying pressure suitably. Cover the entire shoulder area with the horizontal stroke. Switch to other side and repeat.

– Knead gently in small circular motions with the fleshy part of your fingers the tender spots along the top of the shoulder and collar bone.

– Use the heel of the hands to apply pressure down the sides of the spine, starting from upper shoulder and moving down to the lower back.

– Apply soothing finishing strokes by gently rubbing your hands up the center of the back on either side of the spine and down the sides of the back.

Kevin Pederson manages sites related to

Massage Therapy.

, Massage Therapy was used by early physicians to treat fatigue, illness and injury based on their basic understanding of how the body functions.

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