Aurobindo Bets Big on $5.5B Zentiva Buyout, Eyeing Eastern Europe Expansion

As of August 20th, 2025, Aurobindo Pharma has emerged as the frontrunner to acquire Prague-based generic drugmaker Zentiva for $5-5.5 billion. If successful, this will be the largest-ever acquisition by an Indian pharmaceutical company, both at home and abroad.

The acquisition will significantly boost Aurobindo's European footprint, specifically in the Eastern European region, including the Czech Republic, Romania, and Slovakia. This market is seen as fertile and steadily warming up to a raft of biosimilars, following patent expiries of big prescription brands. Additionally, with most healthcare spending in Eastern Europe led by government bulk public procurement, the returns are steadier compared to the perpetual price erosion in the US market.

Aurobindo is competing with US private equity firm GTCR for the Zentiva acquisition, and the two sides are engaged in intense negotiations to finalize the commercial and operational aspects of the transaction. Advent International, which acquired Zentiva seven years ago, has been exploring exit options since late last year, with the binding offers submitted a few weeks ago. A formal announcement of the deal is expected in the next fortnight or a month.