Aurobindo Pharma to acquire 51 percent stake in veterinary pharma firm Cronus for Rs 420 crore
New Delhi: Aurobindo Pharma has announced a definitive agreement under which it would subscribe to new equity shares in Cronus Pharma Specialities India Private Limited (Cronus), purchasing 51 percent of Cronus' equity share capital, valued at Rs 420 crores.
Cronus is a Hyderabad-based generic veterinary pharmaceutical products company engaged in the development, manufacturing and sale of veterinary pharmaceutical products.
Cronus Pharma Specialities India Private Limited ("Cronus") was incorporated on September 2, 2015. It has built a dedicated non-sterile and sterile manufacturing facility focused on veterinary pharmaceutical products for regulated markets in SEZ, spanning an area of 10 acres with dedicated manufacturing blocks for various dosage forms. The plant awaits regulatory inspections and will commence commercial production upon regulatory approval.
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