Hyderabad: Aurobindo Pharma has recently announced that the Board of Directors of the Company has approved
the acquisition of 51% equity shares in GLS Pharma Limited, operating in oncology business and having
manufacturing facility in Hyderabad for a total consideration of Rs 28,05,00,000.
Company in Oncology business in the domestic market and inorganic addition to capacity and revenues in oncology
“The binding agreements have been entered between GLS Pharma Limited, its existing Shareholders and the company on June 17, 2022. The completion of the share transfer is estimated before July 31 ,
2022,” Aurobindo said in a BSE filing.
equity valuation of Rs 45.65 crores. The acquisition is proposed
through a combination of primary issuance and secondary
purchase in the following manner:
9,35,00,000 to be issued by GLS
18,70,00,000 from the existing shareholders of GLS
hold 51% equity shares of GLS.
equity shares of GLS, after a period of 3 years but before 5 years
from the current acquisition, at fair value determined at such point
business of Oncology products which include orals and injectables
used in chemotherapy for solid malignancies, chemotherapy for
hematological malignancies and chemo supportive products. GLS has an India centric approach with pan India availability in
more than 400 institutions.
crores during FY 2020-21 and INR 23.6 crores during FY 2019-20.