Aurobindo Pharma has entered into agreement to acquire 20% additional equity stake in Tergene Biotech. As agreed among the JV Partners, the company will increase its stake in Tergene Biotech from 60% to 80% by subscribing additional 56,50,000 equity shares of Rs 10 each at par aggregating to Rs 5.65 crore. As on date, the company acquired 3.25% and will continue to acquire balance 16.75% over a period of time.
Aurobindo Pharma is engaged in manufacturing pharmaceutical products. It offers active pharmaceutical ingredients, intermediates and generic formulations like astemizole, domeperidone and omeprazole; anti-infective, oral and sterile antibiotics, pain management and osteoporosis segments.
