Aurobindo Pharma announced that it has entered into a share purchase agreement to acquire 100% equity share capital of MViyeS Pharma Ventures Private Limited (MViyeS).
The acquisition was completed on November 6, 2020, the company said in its press release.
Before acquisition, MViyeS was holding 32.18% shareholding in Eugia Pharma Specialities Limited, a joint venture company in which Aurobindo Pharma is holding the balance 67.82%.
Post acquisition, both Eugia Pharma Specialities Limited and MViyeS Pharma Ventures Private Limited have become 100% subsidiaries of Aurobindo Pharma.
Founded in 1986 by P.V. Ramaprasad Reddy, K. Nityananda Reddy and a small group of highly committed professionals, Aurobindo Pharma commenced operations in 1988-89 with a single unit manufacturing Semi-Synthetic Penicillin (SSP) at Pondicherry.
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