New Delhi, Jan. 2 -- Aurobindo Pharma Ltd is broadening its existing pain management portfolio with the acquisition of a non-oncological formulations business of Mumbai-based Khandelwal Laboratories Pvt Ltd.
The Mumbai-listed drugmaker has agreed to acquire Khandelwal Labs' non-oncological prescription formulations business for Rs 325 crore (around $36 million) on a slump sale basis, it said in a stock exchange filing. The all-cash acquisition was done through Auro Pharma, Aurobindo Pharma's wholly-owned subsidiary.
The deal will add brands in pain management and anti-infective segments, which should complement Aurobindo's existing product portfolios, as well as expand its business in domestic market, according to the filing.
Khandelwal Laboratories, which was founded in 1945 and entered the pharma business in 1970s, offers branded oncology and non-oncology prescription formulations. Its non-oncological business has a portfolio of 23 brands marketed in 67 stock keeping units (SKUs) and nine pipeline products where anti-infective as well as pain management product lines are the major portfolios.
The business has a field strength of around 470 people and has more than 1,600 stockists and other distribution related infrastructure.
As of FY25, the business recorded a revenue of Rs 113.5 crore with an EBITDA of Rs 28.9 crore, the filing showed.
This Aurobindo's second acquisition in over a week. Last week, the company disclosed that its wholly-owned subsidiary Helix Healthcare BV will acquire an additional 20% stake in its joint venture Luoxin Aurovitas from partner Shandong Luoxin Pharmaceutical Group Stock Co.
Published by HT Digital Content Services with permission from VC Circle.