 "Aurobindo Pharma finalizes acquisition of GLS Pharma, enhancing its oncology portfolio, gaining full ownership by December 2024.")
Aurobindo Pharma Ltd has announced its plan to acquire the remaining 49 percent stake in GLS Pharma Ltd for Rs 22.5 crore, making GLS a wholly-owned subsidiary. This agreement, finalized on September 18, 2024, involves purchasing 5,90,361 equity shares at Rs 381.12 per share. Aurobindo initially acquired a 51 percent stake in GLS from Suresh Pathak and his family on June 17, 2022. GLS Pharma specializes in oncology products, including drugs used in chemotherapy for various malignancies. The completion of this transaction is expected by December 31, 2024, as Aurobindo aims to fully own GLS and enhance its position in the oncology Market.
Aurobindo Pharma Ltd has announced its plan to fully acquire GLS Pharma Ltd by purchasing the remaining 49 percent stake for Rs 22.5 crore. This decision comes after Aurobindo initially acquired a 51 percent stake in GLS Pharma back on June 17, 2022. The recent agreement, finalized on September 18, 2024, involves the acquisition of 5,90,361 equity shares at a price of Rs 381.12 each.
The move is aimed at solidifying Aurobindo’s control over GLS Pharma, which specializes in oncology products such as chemotherapy drugs. The company expects the transaction to be completed by December 31, 2024.
By acquiring GLS Pharma outright, Aurobindo aims to enhance its portfolio in the competitive pharmaceutical Market, particularly in the oncology segment.
Tags: Aurobindo Pharma, GLS Pharma, acquisition news, oncology products, pharmaceutical industry, business news, India business updates.
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What is Aurobindo planning to do with GLS Pharma?
Aurobindo wants to buy the remaining 49% of GLS Pharma for 22.5 crore rupees. -
Why is Aurobindo interested in GLS Pharma?
Aurobindo believes acquiring GLS Pharma will help them grow their business and expand their product offerings. -
How much money is involved in this deal?
The deal is worth 22.5 crore rupees. -
What will happen after Aurobindo buys the stake?
After the purchase, Aurobindo will own 100% of GLS Pharma and can fully control its operations. - Is this a good investment for Aurobindo?
Experts think it could be a good investment if it helps Aurobindo increase its Market share and profits.
