Pharma company Laurus Labs acquires 87.59% stake in Laurus Bio Private

The acquisition was made through a secondary purchase from the promoter group shareholders of Laurus Bio on November 20, 2023

Laurus Labs

Anjali Singh Mumbai

Listen to This Article

Pharmaceutical company Laurus Labs has successfully completed the acquisition of Laurus Bio Private Limited. This development comes as an update to the disclosures made on September 11, 2023, and October 16, 2023, where Laurus Labs announced the signing of Share Purchase Agreements (SPAs) with Laurus Bio's shareholders and the partial completion of the acquisition of 29,308 shares, respectively.

The latest update reveals that Laurus Labs concluded the acquisition by securing the remaining 8,333 equity shares from the promoter group shareholders of Laurus Bio on November 20, 2023. As a result of this move, Laurus Labs now commands 87.59 per cent shareholding in Laurus Bio on a fully diluted basis.

The acquisition was made through a secondary purchase from the promoter group shareholders of Laurus Bio on November 20, 2023.

Also Read

Sun Pharma Q1 net profit drops 2% YoY, Revenue up 11%; US sales at $471 mn

Alkem Labs sinks 9% in 2 days; FY24 India sales to miss double-digit growth

Laurus Labs Q1FY24 results: PAT sees massive drop of 90% YoY at Rs 25 cr

Sun Pharma Q1 profit may be weighed by weak US generic sales and Taro nos

Strong profit growth keeps brokerages positive on Torrent Pharma

US courts confirm $140 million damages on TCS in EPIC Systems case

MRO service provider StandardAero open to form joint venture in India

MANA Projects to invest Rs 500 cr in luxury housing project in Bengaluru

TCS to take $125 mn hit to Q3 earnings over US trade secret lawsuit

Reliance to invest additional Rs 20k cr in Bengal in 3 years: Mukesh Ambani

First Published: Nov 21 2023 | 6:45 PM IST

Explore News