Aurobindo arm to acquire additional 20 pc stake in JV firm

New Delhi, Dec 23 (PTI) Aurobindo Pharma on Tuesday said that it will pick up an additional 20 per cent stake in its China-based joint venture for USD 5.12 million.

Helix Healthcare BV, a wholly-owned subsidiary of the company, has entered into a binding agreement with Shandong Luoxin Pharmaceutical Group Stock Co, the joint venture partner in Luoxin Aurovitas Pharma, the Hyderabad-based drug firm said in a regulatory filing.

Luoxin Aurovitas is a 30:70 joint venture company between Helix and Shandong Luoxin.

The initial acquisition of a 20 per cent stake would be done within the next three months for USD 5.12 million with the right to acquire the balance 50 per cent stake by December 2029 at an agreed price of USD 18.86 million, subject to certain terms and conditions, Aurobindo Pharma said. PTI MSS HVA