HYDERABAD: As part of its strategy to foray into the Indian formulations market, Hyderabad-based pharma major Aurobindo Pharma is acquiring the domestic formulations business of another Hyderabad-based company Veritaz Healthcare, which is promoted by its promoters, on a slump sale basis for a consideration of Rs 171 crore on a debt-free, cash-free basis.
The acquisition, which comes into effect from April 1, 2022 and is expected to close by May 2022, is a part of Aurobindo’s strategy to create its footprint in the Indian pharma market, the Hyderabad-based pharma biggie said.
