Aurobindo Pharma rose 1.10% to Rs 1,136 at 10:14 IST on BSE after the company completed the acquisition of nutritional supplement maker, Natrol Inc.
The announcement was made after trading hours on Friday, 5 December 2014.
Meanwhile, the BSE Sensex was down 70.98 points, or 0.25%, to 28,387.12.
On BSE, so far 17,000 shares were traded in the counter, compared with an average volume of 1.49 lakh shares in the past one quarter.
The stock hit a high of Rs 1,146 and a low of Rs 1,128.20 so far during the day. The stock hit a record high of Rs 1,158.90 on 2 December 2014. The stock hit a 52-week low of Rs 290.65 on 6 December 2013.
The stock had outperformed the market over the past one month till 5 December 2014, rising 12.15% compared with 1.94% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 35.31% as against Sensex's 5.30% rise.
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The large-cap company has an equity capital of Rs 29.15 crore. Face value per share is Re 1.
Aurobindo Pharma announced the completion of acquisition of assets of nutritional supplement maker, Natrol Inc. and other affiliate entities (Natrol) through its wholly owned subsidiary Aurobindo Pharma USA Inc. (APUSA). APUSA emerged as the highest and best bidder to acquire assets of Natrol under the auction process by the United States Bankruptcy Court for the District of Delaware as was previously announced bolon 12 November 2014.
APUSA acquired the manufacturing assets, personnel, commercial infrastructure including the well established nutraceuticals brands in USA of Natrol along with an agreement to take on certain liabilities, with a bid of $132.50 million. The assets have been acquired under a wholly owned subsidiary Nature Acquisition LLC and since changed to Natrol LLC. The final terms of acquisition are the same as originally envisaged during announcement made earlier, Aurobindo Pharma said in a statement.
APUSA expects its profitability to improve by combining the strength of both enterprises in creating a fully integrated nutraceuticals platform in the USA and other international markets, Aurobindo Pharma added.
Aurobindo Pharma's consolidated net profit rose 58.4% to Rs 372.18 crore on 50.8% growth in net sales to Rs 2862.19 crore in Q2 September 2014 over Q2 September 2013.
Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company's manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, Japan PMDA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The company's robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics, supported by an outstanding R&D set-up. The Company is marketing these products globally, in over 125 countries.
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