Aurobindo Pharma Limited on Sunday announced that the Company had entered into Business Transfer Agreements (BTA) with Apitoria Pharma Private Limited (formerly known as Auro Pharma India Private Limited) (hereinafter referred to as Apitoria), a wholly-owned subsidiary of the Company for sale/transfer of the API Non-Antibiotic Business operated through its operating manufacturing plants, (Unit I, Unit VIII, Unit IX, Unit XI, Unit XIV (integrated unit) and R&D Unit 02) and API Antibiotic Business of the Company operated through its operating manufacturing plants, (Unit V & Unit XVII), respectively, (both excluding the land and buildings pertaining to the said divisions), as a going concern on slump sale basis, the company announced through an exchange filing.
Through the regulatory filings, the company said that in terms of the respective BTAs, the sale/transfer of the Company’s API NonAntibiotic Business and API Antibiotic Business to Apitoria are complete on September 30, 2023 and consequently the API Non-Antibiotic Business and API Antibiotic Business shall be undertaken from Apitoria with effect from October 1, 2023.
The key regulatory approvals in respect of the above business transfers were received on September 30, 2023, and the consequent restrictions to account the business transfer with effect from April 1, 2023, it is proposed to make the aforesaid business transfers effective from October 1, 2023.
Aurobindo Pharma Limited shares
The shares of Aurobindo Pharma Limited on Friday at 3:30 pm IST closed at Rs 917, up by 4.97 percent.