Aurobindo Pharma has entered into a share purchase agreement today to acquire 100 per cent equity share capital of MViyeS Pharma Ventures. MViyeS holds 32.18 per cent shareholding in Eugia Pharma Specialities, a JV company engaged in developing, manufacturing and marketing hormonal and oncology generic formulations.
Through Curepro Parentarals (Curepro), its wholly-owned subsidiary, Aurobindo Pharma, holds 67.82 per cent of equity share capital of Eugia Pharma Specialities.
The cost of acquisition is Rs 274.22 crores for a total of 15,02,49,382 equity shares of Rs 10/- each at a price of RS.18.25 per share.
By this acquisition, both Eugia Pharma Specialities and MViyeS Pharma Ventures will become 100 subsidiaries of Aurobindo Pharma.
The Health Master is now on Telegram. For latest update on health and Pharmaceuticals, subscribe to The Health Master on Telegram.
