Aurobindo Pharma stated that ithas received an approval for the acquisition of 51% equity shares in GLS Pharma, operating in oncology business and having manufacturing facility in Hyderabad for a total consideration of Rs 28.05 crore. 

This acquisition is undertaken to expand the foothold of the company in Oncology business in the domestic market and inorganic addition to capacity and revenues in oncology business. 

The completion of the share transfer is estimated before July 31, 2022. The Board of Directors of the Company at its meeting held on June 17, 2022, has approved the same.

GLS Pharma Limited ("GLS") is a pharmaceutical company engaged in the business of Oncology products which include orals and injectables used in chemotherapy for solid malignancies,
chemotherapy for hematological malignancies and chemo supportive products (the "Business").

3Aurobindo Pharma gets approval to acquire 51% stake in GLS Pharma

GLS Pharma Limited ("GLS") is a pharmaceutical company engaged in the business of Oncology

Aurobindo Pharma stated that ithas received an approval for the acquisition of 51% equity shares in GLS Pharma, operating in oncology business and having manufacturing facility in Hyderabad for a total consideration of Rs 28.05 crore. 

This acquisition is undertaken to expand the foothold of the company in Oncology business in the domestic market and inorganic addition to capacity and revenues in oncology business. 

The completion of the share transfer is estimated before July 31, 2022. The Board of Directors of the Company at its meeting held on June 17, 2022, has approved the same.

GLS Pharma Limited ("GLS") is a pharmaceutical company engaged in the business of Oncology products which include orals and injectables used in chemotherapy for solid malignancies,
chemotherapy for hematological malignancies and chemo supportive products (the "Business").