M&A

M&A

Aurobindo to acquire balance 49% stake in oncology player GLS Pharma for Rs.22.5 Cr

BSE   Economic Times  

Publicly-listed Aurobindo Pharma is to acquire the balance 49% stake in GLS Pharma Ltd from promoters Suresh Pathak and his family members for INR 22.5 crore. Aurobindo will acquire 5,90,361 equity shares of INR 10 each at a price of INR 381.12 per share.GLS Pharma deals with oncology products which include orals and injectables used in chemotherapy for solid malignancies, chemotherapy for haematological malignancies and chemo supportive products. For FY24, the company reported a total sales of INR 32.99 crore.

In Jun 2022, Aurobindo Pharma had acquired 51% stake in GLS Pharma for INR 28.05 crore.