Aurobindo Pharma trades higher as its group entity inks pact with Viatris
Aurobindo Pharma is currently trading at Rs. 714.60, up by 2.25 points or 0.32% from its previous closing of Rs. 712.35 on the BSE.
The scrip opened at Rs. 712.45 and has touched a high and low of Rs. 718.30 and Rs. 709.00 respectively. So far 20246 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 741.40 on 28-Jun-2023 and a 52 week low of Rs. 397.30 on 03-Feb-2023.
Last one week high and low of the scrip stood at Rs. 741.40 and Rs. 709.50 respectively. The current market cap of the company is Rs. 41906.33 crore.
The promoters holding in the company stood at 51.83%, while Institutions and Non-Institutions held 38.11% and 10.05% respectively.
Aurobindo Pharma’s group entity, has entered into an arrangement with Viatris Inc. for an aggregate value of $48 million in relation to transfer from Viatris Inc. of certain marketing and manufacturing related authorisations which will be subject to approval from applicable regulatory authorities and third parties. The arrangement also contemplates participation in the supply system in relation to certain marketing and manufacturing related authorisations and sharing of the net economic benefits by Viatris Inc. to such group entity of the Company.
Aurobindo Pharma is engaged in manufacturing pharmaceutical products. It offers active pharmaceutical ingredients, intermediates and generic formulations like astemizole, domeperidone and omeprazole; anti-infective, oral and sterile antibiotics, pain management and osteoporosis segments.