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Business Standard

Aurobindo to acquire remaining 49% stake in GLS Pharma for Rs 22.5 crore

Aurobindo Pharma Ltd on Wednesday said it will acquire the balance 49 per cent stake in GLS Pharma Ltd for Rs 22.5 crore to make the latter a wholly-owned subsidiary. The company has entered into a binding agreement on September 18, 2024, with GLS Pharma Ltd and its promoters for acquisition of remaining 5,90,361 equity shares of Rs 10 each amounting to 49 per cent stake for a purchase consideration of Rs 22.5 crore. The shares are being acquired at a price of Rs 381.12 per share, Aurobindo Pharma said in a regulatory filing. "This acquisition is undertaken to hold the entire ownership of GLS by the company," it said, adding that the transaction is estimated to be completed before December 31, 2024. Aurobindo acquired a 51 per cent stake in GLS Pharma from promoters Suresh Pathak and his family members on June 17, 2022. GLS is engaged in oncology products, which include orals and injectables used in chemotherapy for solid malignancies, chemotherapy for hematological malignancies an

The Economic Times

Aurobindo to acquire 49 pc stake in GLS Pharma for Rs 22.5 cr

Aurobindo Pharma Ltd will acquire the remaining 49% stake in GLS Pharma Ltd for Rs 22.5 crore, making it a wholly-owned subsidiary. The acquisition of 5,90,361 equity shares is expected to be completed by December 31, 2024. GLS Pharma specializes in oncology products, including chemotherapy treatments.

The Economic Times

Aurobindo to acquire 49% stake in GLS Pharma for Rs 22.5 crore

Aurobindo Pharma Ltd on Wednesday said it will acquire the balance 49 per cent stake in GLS Pharma Ltd for Rs 22.5 crore to make the latter a wholly-owned subsidiary.

Business Standard

Aurobindo Pharma arm receives EIR from USFDA for Andhra Unit; stock down 2%

Aurobindo Pharma shares fell following the news that the US Food and Drug Administration has issued the Establishment Inspection Report (EIR) for the new injectable facility of Eugia Steriles

CNBC TV18

Aurobindo Pharma arm gets USFDA nod with EIR for Andhra Pradesh facility

Aurobindo Pharma’s step-down subsidiary, Eugia Sterlite, has received an Establishment Inspection Report (EIR) from the USFDA for its new injectable facility in Andhra Pradesh. The report follows an inspection conducted between March 28 and April 5, 2024.

Business Standard

Auro Pharma arm gets EIR from USFDA for AP facility

Eugia Pharma Specialities, a stepdown subsidiary of Aurobindo Pharma, received establishment inspection report (EIR) from the US drug regulator for its manufacturing facility situated in Parawada Mandal, Andhra Pradesh.

The Economic Times

Eugia Steriles' new injectables facility in Andhra receives its first product approval by FDA

Aurobindo Pharma Ltd announced that its subsidiary, Eugia Steriles Private Limited, received its first product approval from the US FDA for Lidocaine Hydrochloride Injection. The new injectable facility in Andhra Pradesh was inspected by the FDA earlier this year. This approval marks a significant milestone for the company.

The Economic Times

India takes tiny steps back from its China dependency

India is striving to reduce its dependency on China for pharmaceutical raw materials by promoting domestic production through a Production-Linked Incentive scheme. Companies like Kinvan and Aurobindo Pharma are stepping up to produce essential components locally, aiming for self-sufficiency in the pharma sector, especially highlighted during the Covid pandemic.

Business Standard

Aurobindo, others recall products in US market over production issue: USFDA

Drug makers Aurobindo Pharma, Glenmark and FDC are recalling products in the US due to manufacturing issues, as per the US Food and Drug Administration (USFDA). Aurobindo Pharma USA Inc -- a unit of Hyderabad-based drug major -- is recalling 240 bottles of pain-relieving medication Healthy Living Acetaminophen, Aspirin (NSAID) and caffeine tablets. As per the latest enforcement report of USFDA, the company is recalling the affected lot due to "Missing Label". Some bottles are missing the manufacturer's label that includes the drug facts information, the US health regulator said. The New Jersey-based Aurobindo Pharma USA Inc initiated the Class 1 recall on July 11, it said. As per the US health regulator, a Class I recall pertains to defective products that can cause serious health problems. Similarly, a US-based subsidiary of Glenmark Pharmaceuticals is recalling 2,404 bottles of Indomethacin Extended-Release Capsules, produced at a Madhya Pradesh plant, due to "Failed Dissolutio

The Economic Times

Aurobindo, Glenmark, FDC recall products in US market over manufacturing issues: USFDA

The New Jersey-based Aurobindo Pharma USA Inc initiated the Class 1 recall on July 11, it said. As per the US health regulator, a Class I recall pertains to defective products that can cause serious health problems. Similarly, a US-based subsidiary of Glenmark Pharmaceuticals is recalling 2,404 bottles of Indomethacin Extended-Release Capsules, produced at a Madhya Pradesh plant, due to "Failed Dissolution Specifications", USFDA said.

Business Standard

USFDA pulls up Eugia for manufacturing lapses at its Telangana plant

The US health regulator has pulled up Aurobindo Pharma's subsidiary Eugia for manufacturing lapses at its Telangana-based plant. In a warning letter to Eugia Pharma Specialities CEO Yugandhar Puvvala, the US Food and Drug Administration (USFDA) pointed out that the company failed to ensure the accuracy of data for production and process simulation. "Your firm failed to ensure that laboratory records included complete data derived from all tests necessary to ensure compliance with established specifications and standards," USFDA stated. The US health regulator said it inspected the Patancheru (Mandal), Sangareddy, Hyderabad-based plant from January 22 to February 2, 2024. "You failed to ensure the accuracy of data in records for both production and process simulations (media fills)," USFDA noted. Besides, the operators also falsified environmental monitoring records for the multiple aseptic filling lines, including for viable active air samples and non-viable particle counts which

The Economic Times

USFDA pulls up Eugia for manufacturing lapses, data accuracy at Hyderabad plant

The US Food and Drug Administration (USFDA) has issued a warning letter to Eugia Pharma Specialities, a subsidiary of Aurobindo Pharma, citing significant manufacturing issues at its Telangana plant. The USFDA's inspection from January 22 to February 2, 2024, revealed problems including inaccurate production and process simulation data, falsified environmental monitoring records, and incomplete batch production and control records.

The Economic Times

Aurobindo may take its injectable unit public

Aurobindo Pharma is revisiting plans to sell a strategic stake in its injectable unit, Eugia Pharma Specialities, focusing on an IPO. Previously hampered by valuation issues with private equity, the process faces new hurdles due to USFDA observations. Eugia aims to reach $600 million in revenue this fiscal year. Regulatory issues at Unit-3 remain a concern.

The Economic Times

Aurobindo Pharma, Hero MotoCorp among 5 stocks with long buildup

In Tuesday's trading session, five stocks experienced a buildup of fresh long positions

Business Line

Aurobindo Pharma’s Q1 net up 61% at ₹919 crore

The revenue from operations for the Hyderabad-based company increased 10.5 percent at ₹7,567 crore as against ₹6,851 crore in the year-ago period

The Economic Times

Aurobindo Pharma Q1 results: Net profit jumps 61% at Rs 919 crore

Revenue from operations increased to Rs 7,567 crore in the June quarter as against Rs 6,851 crore in the year-ago period, the drug maker said in a statement.

Business Standard

Aurobindo Pharma Q1FY25 results: Net profit jumps 61% to Rs 919 cr

Aurobindo Pharma on Saturday said its consolidated net profit increased 61 per cent year on year to Rs 919 crore in the first quarter ended June 2024, aided by strong sales across markets. The Hyderabad-based drug maker had reported a net profit of Rs 571 crore in the April-June quarter of last fiscal. Revenue from operations increased to Rs 7,567 crore in the June quarter as against Rs 6,851 crore in the year-ago period, the drug maker said in a statement. "We are pleased with our continued strong performance this quarter, with a significant top-line growth across all our business segments," Aurobindo Pharma Vice-Chairman and Managing Director K Nithyananda Reddy stated. The profitability was sustained by improved gross margins and operational efficiencies, while ramping up our recently commercialised plants, he added. "We are confident in our ability to achieve our growth targets for FY25," Reddy said.

Business Line

Stocks that will see action today: August 7, 2024

Buzzing stocks: Real estate stocks, SBI, Suzlon Energy, RECL, JHS Svendgaard, Aurobindo Pharma, Indian Hotels, Metro Brands, PNC Infratech, 360 One, SG Mart, Shradha AI Tech, Vashu Bhagnani, Ramky Infra

Business Line

Aurobindo Pharma scrip gains 3.53% on share buyback move

The board of directors will meet on July 18 to consider a proposal for buyback

The Economic Times

Indian pharma companies faked generic viagra data to gain approval, finds US FDA

FDA's June 18 alert revealed falsified data by Synapse Labs affecting generics like Umedica's Viagra. Europe had earlier warned. Insurers might change coverage. Both Massoud Motamed and Erin Fox highlight ingredient risks. Due to confidentiality, FDA hasn't disclosed all affected drugs, suspended sales, or done significant public outreach. Identified generics include Lupin's Lipitor and Aurobindo's risendronate.

The Economic Times

Lupin, Eugia recall products from US market: USFDA

Drugmakers Lupin and Aurobindo Pharma are recalling products from the American market due to manufacturing issues, as reported by the US Food and Drug Administration (USFDA). Lupin Pharmaceuticals Inc, a US-based unit of Lupin, is specifically recalling 3,552 bottles of Cefixime for Oral Suspension (USP 200 mg/5 mL) because of "failed content uniformity specifications."