Mumbai, Nov. 25: Aurobindo Pharma today announced that its French subsidiary Arrow Generiques SAS would acquire select commercial products in France from Teva Pharmaceutical Industries for an undisclosed amount.

Arrow Generiques will acquire the right, title and interest in Calcium and Calcium Vitamin D3, including the use of the OROCAL trademark, the Hyderabad-based company informed the stock exchanges today.

The transaction is subject to the approval of the European Commission.

Following clearances from the European authorities, Arrow Generiques will integrate these products with its existing commercial operations in France.

The company added that Arrow Generiques and Teva intended to ensure continuity of the supply of the products. The acquisition is expected to enable Arrow Generiques to increase its branded products portfolio and leverage its position as a key player in the drug market.

Arrow Generiques has been selling generics in the retail and hospital markets in France since 2002. It adopted a diversification strategy with the acquisition of the first branded products a few years ago to become a company operating in generics, branded and biosimilar segments.

The company has also set up a dedicated business unit with sales and marketing teams to grow these businesses.

According to Aurobindo Pharma, Arrow Generiques has continued to develop brand awareness among prescribers through the promotion of mature products and the launch of specialties for patient care. "This deal will boost the position of Arrow Generiques and open new opportunities for the future," Aurobindo Pharma said.

Teva has been divesting products to secure regulators' approval for the acquisition of Allergan's generic pharmaceutical business.

Aurobindo was in the race to acquire the UK and Ireland assets of Teva, but was outbid by Intas Pharmaceuticals.

At a recent conference call, the senior management of the company said while it was not averse to acquisitions, the focus would be on qualitative assets and not addition to the topline.

Shares of Aurobindo Pharma today ended with gains of over 4 per cent to settle at Rs 739.90 on the BSE.