Aurobindo To Acquire Trident Life Sciences

Aurobindo Pharma (Aurobindo) has reported that it will acquire Trident Life Sciences (TLSL) for an undisclosed amount.

The company said that the board has approved the acquisition of 100% stake of TLSL, subject to suitable agreements between the parties and conditions customary to the closing of the transaction.

The acquisition will enable Aurobindo to enter the high growth injectables space and further enhance its capabilities in providing pharma manufacturing, distribution, services and solutions to its clients.

Also, the company is currently setting up a facility near Hyderabad and the operations are scheduled to commence from April 2011.

The facility shall be acquired at its book value on 30th June, 2009, which is being the least of the valuations arrived at by the financial advisors, the company said.