Agile Pharma BV acquires Ace Laboratories Ltd, UK

Agile Pharma BV, The Netherlands, a wholly owned step-down subsidiary of AUROBINDO PHARMA LIMITED, has acquired entire share capital of Ace Laboratories Limited, UK, and made it a wholly owned subsidiary of Agile Pharma BV, The Netherlands.

Ace Lab was incorporated on June 5, 2013 in United Kingdom. Currently Ace Lab conducts 170 batches of testing per month and has capacity to do more than 250 batches per month.

The acquisition is largely for the captive purposes of the Company's business requirements in the European region. Based on capacity utilization, additional external revenue will also add to company's revenue stream.

Shares of Aurobindo Pharma Limited was last trading in BSE at Rs. 1207.60 as compared to the previous close of Rs. 1188.75. The total number of shares traded during the day was 28319 in over 2569 trades.

The stock hit an intraday high of Rs. 1214.45 and intraday low of 1192.00. The net turnover during the day was Rs. 34044783.00.

Source : Equity Bulls

Keywords

AurobindoPharma INE406A01037 AgilePharma Acquisition AceLaboratories UK