Aurobindo Pharma has received an approval for the acquisition of 51% equity shares in GLS Pharma, operating in oncology business and having manufacturing facility in Hyderabad for a total consideration of Rs 28.05 crore. This acquisition is undertaken to expand the foothold of the company in Oncology business in the domestic market and inorganic addition to capacity and revenues in oncology business. The completion of the share transfer is estimated before July 31, 2022. The Board of Directors of the Company at its meeting held on June 17, 2022, has approved the same.
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.
