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Aurobindo Pharma today said its board has approved to acquire Andhra Pradesh based Hyacinths Pharma, from its existing shareholders.
"The board has decided to acquire 100% of the equity stake in Hyacinths Pharma, a company incorporated to manufacture active pharmaceutical ingredients (APIs) from the existing shareholders," the company said in a filing to BSE.
The company's board which met today also approved the to acquire 25% stake in Silicon Life Sciences from the existing shareholder, ABS Mercantiles Pvt Ltd, it added.
"Post this acquisition, the equity holding of the company would increase to 100%, thereby making Silicon a wholly owned subsidiary of the company," it said.
The acquisition will help the company consolidate its operations, Aurobindo Pharma said.
The company, however, did not disclose financial details.
The Hyderabad-based firm's board also approved the transfer of injectables business to its wholly-owned subsidiary Curepro Parenterals pursuant to a scheme of arrangement, it added.
Shares of Aurobindo Pharma today closed at Rs 182.75 on the BSE, down 2.19% from its previous close.
