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Aurobindo scraps jt venture

Our Bureau

HYDERABAD: Aurobindo Pharma Ltd (APL), has announced that it has terminated with immediate effect its 50:50 joint venture agreement with Citadel Fine Pharmaceuticals Ltd (CFPL) in Citadel Aurobindo Biotech Ltd (CABL). The company informed stock exchanges on Wednesday that the JV company has been incurring losses. However, the company said the termination has no significant effect on its revenues.

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