Aurobindo Pharma arm buys Ace Lab for Rs 17.91 crore
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Hyderabad: Aurobindo Pharma has informed in a BSE filing that Agile Pharma BV, The Netherlands, a wholly owned step-down subsidiary of the Company, has acquired entire share capital of Ace Laboratories Limited, UK for Rs. 17.91 crores on debt free basis.
Now it is a wholly owned subsidiary of Agile Pharma BV, The Netherlands.
"The acquisition is largely for the captive purposes of the Company’s business requirements in the European region. Based on capacity utilization, additional external revenue will also add to the Company’s revenue stream," the Company stated.
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