Aurobindo Pharma acquires 7 oncology products from US-based firm


Equity tips:-

The acquisition was for an upfront purchase price of $160mn in cash plus up to $140mn (aggregating ~Rs2,125cr) on achieving regulatory and sales-based milestones.




Aurobindo Pharma in its filing to the exchanges informed that the company’s subsidiary Acrotech Biopharma LLC has completed the acquisition of the portfolio of 7 marketed oncology injectable products, intellectual property, and commercial infrastructure from Spectrum Pharmaceuticals Inc.


The acquisition was for an upfront purchase price of $160mn in cash plus up to $140mn (aggregating ~Rs2,125cr) on achieving regulatory and sales-based milestones, the company said in a press note to the exchanges on Saturday.



The portfolio is expected to generate revenue of ~$100mn for the first 12 months after completion of the transaction.
Aurobindo Pharma Ltd's share price ended at Rs728, up by Rs4.65 or 0.64%, from its previous closing of Rs723.35 on the BSE.
The scrip opened at Rs728 and touched a high and low of Rs728 and Rs728, respectively. A total of, 5,919 (NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs42,381.63cr.

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