Aurobindo Pharma Ltd. announced that its Board of Directors has approved the proposal to acquire 100% stake of Trident Life Sciences Ltd., subject to suitable agreements being executed between the parties for the same and conditions customary to dosing of the transaction. TLSL was incorporated in 2004 and has well established Clinical Research Organizations (CRO). It is in the process of implementing a liquid injectables facility in the Medak district near Hyderabad. The management of TLSL with an intention to focus on its core business of CRO has demerged the CRO business into a separate company. Post demerger, TLSL is left with the Injectables business. The facility specializes in manufacture of general injectable range of formulation products, including glass vials for lyophilized sterile powder and liquids, ampoules, pre filled syringes and blow filled seals. The facility shall be acquired at its book value as on June 30, which is being the least of the valuation arrived by the financial advisors.
Sunday, August 23, 2009
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