Aurobindo Pharma arm buys Ace Lab for Rs 17.91 crore
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.
Ace Laboratories Limited is incorporated on 5th June 2013 in UK. Ace has a share capital of £500 and net worth as on the year ended 30th June 2023 is Rs 15.92 crores.
It has a total revenue of INR 8.95 crores for the 12 months period ended 30th June 2023. PAT for the year ended 30th June 2023 is Rs 4.88 crores.
Read also: Aurobindo Pharma unit partners with MSD to foray into contract manufacturing operations
Aurobindo Pharma Limited is an integrated global pharmaceutical company headquartered in Hyderabad, India. The Company develops, manufactures, and commercializes a wide range of generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients globally in over 150 countries. The Company has 25 manufacturing and packaging facilities that are approved by leading regulatory agencies including USFDA, UK MHRA, EDQM, Japan PMDA, WHO, Health Canada, South Africa MCC, Brazil ANVISA. The company’s product portfolio is spread over 7 major therapeutic/product areas encompassing CNS, AntiRetroviral, CVS, Antibiotics, Gastroenterological, Anti-Diabetics and Anti-Allergic, supported by a strong R&D set-up.
Read also: Aurobindo Pharma unit partners with MSD to foray into contract manufacturing operations
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