Indian pharmaceutical giant Aurobindo Pharma has emerged as the frontrunner in talks to acquire Prague-based drugmaker Zentiva, in what could potentially become the largest overseas acquisition by an Indian pharma company. The deal value is estimated at up to $5.5 billion, according to reports.
Where the Deal Stands
Aurobindo confirmed through a stock exchange filing that its board has not signed any binding agreements at this stage. The company also noted that any definitive developments, as required under listing regulations, would be communicated promptly to the exchanges.
Discussions are understood to be ongoing with Advent International, the US-based private equity firm that currently owns Zentiva. Advent had acquired the business in 2018 and has since been working with advisors including Goldman Sachs and PJT Partners to explore exit opportunities.
Competing Bidders and Strategic Significance
At present, the only other serious contender in the race is GTCR, a US private equity firm. Should Aurobindo complete the acquisition, it would outsize past landmark Indian pharma deals, including:
- Biocon Biologics’ $3.3 billion Viatris biosimilars acquisition
- Daiichi Sankyo’s $3.2 billion purchase of Ranbaxy in 2014
This transaction, if finalized, would mark a transformative moment for India’s pharmaceutical sector on the global stage.
Zentiva’s Global Footprint
Zentiva operates in more than 30 countries and has a notable manufacturing presence in India, with a facility in Gujarat. The company is positioned as a key player in the generic medicines space across Europe and emerging markets, making it a strategic fit for Aurobindo’s global expansion ambitions.
Recent Moves by Aurobindo
This development follows Aurobindo’s announcement last month of its acquisition of US-based Lannett Company for $250 million, executed through its subsidiary, Aurobindo Pharma USA. That deal signaled the firm’s growing appetite for international expansion and portfolio diversification.
What This Means for the Industry
If successful, the Zentiva acquisition would significantly scale Aurobindo’s European operations, broaden its manufacturing capabilities, and cement its position as one of the most ambitious Indian players in the global pharmaceutical landscape. It also highlights a broader trend of Indian firms leveraging global acquisitions to move up the value chain and establish stronger footprints in regulated markets.
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