Aurobindo Pharma share price up 2% on assets acquisition of US firm
The assets acquisition is for upfront cash consideration of $11.29 million.
November 29, 2019 / 10:15 AM IST
Aurobindo Pharma share price rose 2.5 percent intraday on November 29 after a subsidiary agreed to buy some business assets of the US-based Profectus BioSciences, a clinical-stage vaccine development company.
The assets acquired were for upfront cash consideration of $11.29 million. Auro Vaccines LLC is a 100% subsidiary of Aurobindo Pharma USA Inc.
The closing of the transaction is subject to government approvals and third-party consents.
At 0930 hours, Aurobindo Pharma was quoting at Rs 460.80, up Rs 10.60, or 2.35 percent, on the BSE.
The share touched its 52-week high Rs 838 and 52-week low Rs 389.70 on April 30, 2019 and November 14, 2019, respectively.
It is trading 45.39 percent below its 52-week high and 17.42 percent above its 52-week low.