Aurobindo Pharma gains on buying US company Natrol

The company's US subsidiary emerged as the highest bidder for the acquisition of Natrol

Aurobindo Pharma has gained around 4% to Rs 1,065 on BSE after its US subsidiary emerged as the highest bidder, with a bid of $132.5 million (approximately Rs 808 crore), for the acquisition of US-based nutritional supplement maker, Natrol Inc, and its other affiliate entities.

Natrol, which manufactures and sells nutritional supplements in the US and other international markets, had filed a bankruptcy petition with the US Bankruptcy Court in Wilmington, Delaware district in the US, in June this year.


"Aurobindo USA believes that Natrol is an excellent strategic fit and provides the right platform, creating a fully-integrated OTC (over-the-counter) platform in the US and in other international markets," Aurobindo said in a filing to the BSE on Wednesday.

The stock opened at Rs 1,028 and has hit a high of Rs 1,069 till 11:15 AM and around 11,00,000 shares have changed hands on NSE and BSE combined.