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 for the deal during a post-earnings call
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