Aurobindo

Aurobindo was scheduled to acquire the portfolio with an upfront purchase price of $900 million in cash

A mutual decision to cancel the agreement was taken as approval from US Federal Trade Commission was not obtained within anticipated timelines

The stock tanked to its five-year low before closing 8.7 per cent lower on Thursday

The exchange had sought a clarification from the company regarding declining share prices on the back of USFDA observations

Aurobindo scrip lost as much as Rs 22 (down close to 3%) on Tuesday after touching a new 52-week high of Rs 830

Strong US product pipeline to help sustain the performance

The Pharma major sheds nearly 10% since the start of the month on regulatory issues

US business growth is expected to remain robust and help earnings grow 18% annually till FY19