Aurobindo Pharma has received an approval for termination of the binding agreements with Cronus Pharma Specialities India. The company had entered into binding agreements with Cronus Pharma Specialities for acquisition of 51% ownership in Cronus Pharma by subscribing to 95,059,963 equity shares of Rs 10 each at a premium of Rs.34.18 per equity share aggregating to Rs 420 crore. The board of Directors in its meeting held on August 20, 2021 has approved the termination of the aforesaid agreements.
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.
Company Name | CMP |
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Sun Pharma Inds. | 1528.20 |
Dr. Reddys Lab | 5872.35 |
Cipla | 1405.95 |
Zydus Lifesciences | 997.45 |
Lupin | 1638.40 |
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