Aurobindo Pharma is reportedly in discussion with Shreya Life Sciences for a deal to buy the latter’s Russian business. The potential deal is valued between $80 million to $100 million.
The company has given a term sheet and the deal now depends on the final valuation. However, this could be a complex process as the Mumbai-based Shreya Life Sciences may not be keen on selling the entire business and prefer retaining some share.
Shreya Life Sciences was established in 2001 and deals with a wide variety of pharmaceutical products. The company runs operations all over the world and had started its Russian operations just a year after its birth.
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.
