Aurobindo Pharma’s wholly owned step-down subsidiary -- Agile Pharma BV, The Netherlands, has acquired entire share capital of Ace Laboratories, UK, and made it a wholly owned subsidiary of Agile Pharma BV, The Netherlands.
The acquisition is largely for the captive purposes of the company’s business requirements in the European region. Based on capacity utilization, additional external revenue will also add to company’s revenue stream. The cost of acquisition is Rs 17.91 crore on debt free basis.
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.
