Companies

Aurobindo Pharma to buy R&D assets of US based Profectus Biosciences

Our Bureau Hyderabad | Updated on November 29, 2019 Published on November 29, 2019

Auro Vaccines LLC, an arm of  Aurobindo Pharma Ltd, has entered into a pact to acquire certain business assets from Profectus BioSciences Inc., US for an upfront cash consideration of $11.29 million (around ₹80 crore).

Auro Vaccines LLC is a wholly-owned subsidiary of Aurobindo Pharma USA Inc, is a wholly-owned arm of the company, Hyderabad based Aurobindo Pharma said. 

The indicative time period for completion of acquisition of research and development assets of Profectus BioSciences Inc is first half of 2020.

The acqusition provides access to proprietary and innovative technology platforms for prophylactic use and therapeutic use along with global R&D center, Aurobindo Pharma said.

Published on November 29, 2019
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