M&A

M&A

Aurobindo Pharma to acquire US drug-maker Lannett Co at $250-M valuation

BSE Announcement   Business Line  

Publicly-listed Aurobindo Pharma , via its subsidiary Aurobindo Pharma USA Inc., has acquired a majority stake in Trevose, PA (USA)-based drug marker Lannett Company LLC from Lannett Seller Holdco, Inc. at an enterprise value of USD 250 million (INR 2,185 crore).Sullivan & Cromwell, Ice Miller, and Khaitan &Co., Ernst & Young, India, KNAV, Sagene Advisors and IES Engineering advised Aurobindo on the deal. Raymond James and Associates, Inc. and Honigman LLP and Dechert advised Lannett Company.Founded in 1942, Lannett is a manufacturer and supplier of superior quality, complex generic pharmaceuticals, including DEA-controlled substances. It has successfully launched generic liquid and Attention-Deficit/Hyperactivity Disorder (ADHD) treatments.The acquisition helps Aurobindo gain access to profitable portfolio products focused on non-opioid controlled substances, particularly in ADHD therapeutics.