Aurobindo Pharma to sell shares in Auro Vaccines to Curateq Biologics
Hyderabad: The Board of Directors of Aurobindo Pharma Limited has approved the sale and transfer of all equity shares held by the Company in Auro Vaccines Private Limited, a wholly owned subsidiary of the Company, to Curateq Biologics Private Limited, another wholly owned subsidiary of the Company, as part of verticalization of business operations.
The completion of the sale is estimated in the first quarter of FY 2023-24.
As per the Share Purchase Agreement, the entire equity share capital of Rs. 10,00,000 (divided into 1,00,000 equity shares of Rs.10 each) of Auro Vaccines Private Limited, a wholly owned subsidiary of the Company incorporated on November 8, 2021, will be transferred by the Company to Curateq Biologics Private Limited, another wholly owned subsidiary of the Company.
"The shares are proposed to be transferred at par and accordingly, the consideration is Rs. 10 lakhs for transfer of 1,00,000 equity shares of Rs.10 each," the company stated in a recent BSE filing.
The agreement will be entered into among the Company as a seller, Curateq Biologics Private Limited as a buyer and Auro Vaccines Private Limited as a target company.
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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 24 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.
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