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Aurobindo Pharma surges on its arm agreeing to acquire business assets from Profectus BioSciences

Aurobindo Pharma is currently trading at Rs. 456.50, up by 6.30 points or 1.40% from its previous closing of Rs. 450.20 on the BSE.

The scrip opened at Rs. 455.05 and has touched a high and low of Rs. 460.00 and Rs. 454.85 respectively. So far 8098 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 838.00 on 30-Apr-2019 and a 52 week low of Rs. 389.70 on 14-Nov-2019.

Last one week high and low of the scrip stood at Rs. 460.00 and Rs. 429.10 respectively. The current market cap of the company is Rs. 26378.96 crore.

The promoters holding in the company stood at 51.87%, while Institutions and Non-Institutions held 34.95% and 13.18% respectively.

Auro Vaccines LLC, 100% subsidiary of Aurobindo Pharma USA Inc., USA, which in turn is 100% subsidiary of Aurobindo Pharma, has entered into a definitive agreement to acquire certain business assets from Profectus BioSciences Inc., a clinical-stage vaccine development company. The assets are acquired for an upfront cash consideration $11.29 million with potential earn outs on achieving certain milestones.

The acquisition provides access to – Proprietary & Innovative technology platforms for Prophylactic use & Therapeutic use along with Global R&D center.

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.

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