Hyderabad :

Aurobindo Pharma Ltd will acquire Hyacinths Pharma Pvt Ltd, a company engaged in production of active pharmaceutical ingredients.

“The Hyacinths, which has about 53 acres near Aurobindo’s unit at Pydibhimavaram in Srikakulum district of Andhra Pradesh, is yet to commence production but has all necessary approvals. The location is convenient for the Hyderabad-based company’s expansion plans,” the company informed the BSE on Thursday.

In addition, it would also acquire 25 per cent stake in Silicon Life Sciences Pvt Ltd, a joint venture of Aurobindo Pharma and Trident Chemphar Ltd, to make it the company’s wholly-owned subsidiary.

Silicon Life has a production facility in Ramky Pharma City in Vishakapatnam. In addition to these decisions, the company’s board, at its meeting held on Thursday, also approved the transfer of injectables Unit IV as a going concern to Curepro Parenterals Ltd, its wholly-owned subsidiary.

Aurobindo’s scrip declined 2.19 per cent on the BSE on Thursday to end at Rs 182.75.

source: http://www.thehindubusinessline.com / Business Line / Home> Companies / by The Hindu Bureau / September 12th, 2013