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Shares of Aurobindo Pharma dropped as much as 5.6 per cent to Rs 569.10 on the BSE.
After opening the session higher at Rs Rs 610 against the previous close of Rs 602.90, the stock touched intraday high of Rs 612.15 and a low of Rs 569.10.
In terms of volume, 2.58 lakh shares exchanged hands in the evening trade. The company shares ended down by 5.08 per cent at Rs 572.30 on the BSE.
The Hyderabad-based company had announced on Saturday that it has entered into a definite agreement with global generics maker Apotex to acquire its business in Poland, the Czech Republic, the Netherlands, Spain and Belgium. The cost of the acquisition will be 74 million euros.
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