Aurobindo Inks Pact to Acquire Australian Pharma Firm for USD 12.5 Million

Aurobindo Pharma has said its wholly-owned subsidiary has entered into an agreement to acquire a product under development and related assets from Australia-based Advent Pharmaceuticals Pty Ltd for USD 12.5 million. “Our wholly-owned subsidiary, Aurobindo Pharma USA Inc., USA, has entered into an agreement to acquire a product under development and related assets from Advent Pharmaceuticals Pty Ltd, Australia, through AuroScience Pty Limited, Melbourne, a 100 percent subsidiary of Aurobindo Pharma USA Inc, USA,” a regulatory filing from Aurobindo said Monday. Based out of Melbourne, Advent Pharmaceuticals is engaged in developing and commercializing generic inhaled medicines for global markets. – Business Standard