Aurobindo Pharma to buy API maker Hyacinths

According to a PTI report, Aurobindo Pharma’s board has approved to acquire Andhra Pradesh-based Hyacinths Pharma, from its existing shareholders. "The board has decided to acquire 100% of the equity stake in Hyacinths Pharma, a company incorporated to manufacture active pharmaceutical ingredients (APIs) from the existing shareholders," the company said in a filing to BSE.

The company's board which met today also approved to acquire 25% stake in Silicon Life Sciences from the existing shareholder, ABS Mercantiles Pvt Ltd, it added. "Post this acquisition, the equity holding of the company would increase to 100%, thereby making Silicon a wholly owned subsidiary of the company," it said. The acquisition will help the company consolidate its operations, Aurobindo Pharma said.

The Hyderabad-based firm's board also approved the transfer of injectables business to its wholly-owned subsidiary Curepro Parenterals pursuant to a scheme of arrangement, it added.