Aurobindo Pharma Plans Strategic Merger of Units

The merger of Auro Vaccines and Curateq Biologics, a part of Aurobindo Pharma, was approved today during a board meeting of the company held. This action is a significant step in streamlining the operations of each subsidiary.

Aurobindo intends to file an application with the Hon'ble National Company Law Tribunal ("NCLT") in Hyderabad seeking approval for the merger.

Aurobindo's intent in merging Auro Vaccines a wholly-owned step-down subsidiary of Aurobindo Pharma with Curateq Biologics is to establish a more streamlined and focused platform to support both biologics and vaccines for the company.

This merger will increase the operational efficiencies of the two subsidiaries, reduce complexity in the overall corporate structure of Aurobindo Pharma, and ultimately allow Aurobindo to more effectively develop and deliver innovative solutions for advanced healthcare across both domestic and international markets.

This consolidation will further the long-term growth of Aurobindo by allowing Aurobindo to optimize both its business operations and comply with applicable government regulations.

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In addition, the merged entity will be under the same management, thereby better utilizing resources to fund innovative research, develop new products and manufacture products at a larger scale.

Filing a petition with the NCLT will initiate the legal process for the amalgamation, which will be subject to various government agency approvals as well as the relevant consents of stakeholders.