When Aurobindo Pharma Limited announced its fiscal 2022 first-quarter results, it also notified stock exchanges of an intention to acquire a 51% stake in an Indian animal health company, Cronus Pharma Specialities Pvt. Ltd., for INR4.2bn ($56.5m).
Aurobindo’s Animal Health Acquisition, US Deceleration Surprise Analysts
Phase III Trials Of COVID-19 Vaccine Set To Begin
While its COVID-19 vaccine, partnered with US-based Vaxxinity, is set to move to Phase III trials, Aurobindo has acquired an animal health company as well as several ANDAs and OTC assets. The acquisition and a deceleration in US sales caught analysts by surprise.
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