Aurobindo Pharma Limited updates on subsidiaries

The Board of Directors of Aurobindo Pharma Limited's 100% subsidiary company, CuraTeQ Biologics Pvt. Ltd. ("CuraTeQ") at its meeting held today, September 1,2022, has decided to expand its operations by establishing another mammalian cell culture manufacturing facility of higher capacity to cater to the future requirements. The capital expenditure for ramping up capacities is estimated to be around Rs.300 crores. Subject to regulatory approvals and other factors, the facility is likely to be fully operational by FY 2026.

The board approved proposal to enter into contract manufacturing operations ("CMO") for biologicals for effective utilization of capacities and augmenting the business prospects in this area as the global biologics contract manufacturing demand is growing at 8 to 10% rate. CuraTeQ will actively seek customers in CMO area.

The Board of Directors of 100% subsidiary company, Auro Vaccines Pvt. Ltd. ("Auro"), which is engaged in business of developing and manufacturing vaccines biologicals, at its meeting held today, September 1, 2022, has decided to explore the possibilities of offering contract manufacturing to global vaccine developers so as to effectively utilise its existing manufacturing capacity. Auro will actively seek customers in this space.

Source : Equity Bulls

Keywords

AurobindoPharma CuraTeQBiologics AuroVaccines CMO