ADVERTISEMENT
Aurobindo Pharma Unit Acquires Ace Laboratories For Rs 18 Crore
The company was acquired for nearly Rs 18 crore on a debt-free basis.
28 Jun 2024, 09:19 PM IST 
Save
A batch of medicine bottles at a Aurobindo Pharma plant. (Source: Company website)
Show Quick Read
Summary is AI Generated. Newsroom Reviewed
Aurobindo Pharma Ltd. announced on Friday that its subsidiary, Agile Pharma BV, based in the Netherlands, has acquired the entire share capital of Ace Laboratories Ltd. in the UK. This acquisition makes Ace Laboratories a wholly owned subsidiary of Agile Pharma BV.
The company was acquired for nearly Rs 18 crore on a debt-free basis.
The acquisition is largely for the captive purposes of the company’s business requirements in the European region. Based on capacity utilisation, additional external revenue will also add to company’s revenue stream, according to an exchange filing.
Opinion
Indian Pharma Industry To Expand By 9% To Surpass $70 Billion By FY27: CareEdge
