Aurobindo Pharma's Apitoria Acquires 80% Stake in A1 Biochem Labs India
Hyderabad: Aurobindo Pharma Limited has completed the acquisition of the Contract Research Services business of A1 Biochem Group through its wholly owned subsidiary Apitoria Pharma Private Limited (Apitoria), following completion of the conditions prescribed under the definitive agreements.
Following completion of the acquisition, Apitoria holds an 80% ownership interest in A1 Biochem Labs (India) Private Limited (A1 Labs India), while the remaining 20% is held by Dr. Rajendra Gadikota, the former promoter of A1 Biochem Group.
Further, A1 Labs India, through its wholly owned subsidiary A1 Biochem USA Inc., USA, has acquired 100% membership interest in A1 Biochem Labs LLC, USA, which is a step-down subsidiary of A1 Labs India and operates in the United States.
Through the acquisition, Apitoria gains access to an existing contract research organisation (CRO) platform with a client base of more than 50 customers. The acquired business has experience of completing more than 800 projects across India and the USA.
According to Aurobindo Pharma, the acquisition complements Apitoria’s existing manufacturing capabilities and enables the creation of an integrated contract research, development and manufacturing organisation (CRDMO) platform. The transaction is also expected to expand the portfolio of offerings available to customers and support longer life-cycle engagement with them.
