Aurobindo Pharma announces completion of acquisition

Aurobindo Pharma announced that the company has completed acquisition of MViyeS Pharma Ventures on 6 November 2020.

On 17 October 2020, the company had informed about entering into a share purchase agreement to acquire 100% equity share capital of MViyeS Pharma Ventures (MViyeS).

Before acquisition, MViyeS was holding 32.18% shareholding in Eugia Pharma Specialities, a joint venture company in which the company is holding the balance 67.82%. Now, both Eugia Pharma Specialities and MViyeS Pharma Ventures have become 100% subsidiaries of Aurobindo Pharma.

The announcement was made on Saturday, 7 November 2020. Shares of Aurobindo Pharma fell 1.45% to close at Rs 779.45 on Friday, 6 November 2020.

 

Aurobindo Pharma is engaged in producing oral and injectable generic formulations and active pharmaceutical ingredients (APIs).

Powered by Capital Market - Live News