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Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

Indian pharma firm Aurobindo to spinoff unit, makes 2 acquisitions

4:03 AM MDT | August 11, 2013 | Natasha Alperowicz

The board of directors of Indian pharmaceuticals producer Aurobindo Pharma (Hyderabad) has approved a proposal to evaluate the spinoff of its injectable pharma business into a wholly owned subsidiary and to look for strategic alliances. Aurobindo Pharma currently manufactures injectables at 2 facilities located near Hyderabad. The board has also approved a proposal to acquire 60% in Celon Laboratories' (Hyderabad) manufacturing facility currently under construction for 156 million Indian rupee ($2.6 million). The facility will produce hormonal and oncology...

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