Aurobindo’s Animal Health Acquisition, US Deceleration Surprise Analysts

Phase III Trials Of COVID-19 Vaccine Set To Begin

18 Aug 2021

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.

Concept Image For Acquisition — Aurobindo Pharma Hits The Acquisition Button Again • Source: Alamy

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).

The move into animal health caught analysts by surprise and had the management answering several questions on the business case...

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