Aurobindo Pharma Reorganizes Russian Subsidiary Ownership

Aurobindo Pharma Ltd announced a board-approved transfer of ownership of its Russian subsidiary, Auro Pharma LLC, from Auroactive Pharma Private Limited to Auropharm Overseas Limited. Both Auroactive Pharma and Auropharm Overseas are wholly-owned subsidiaries of Aurobindo Pharma. This internal reorganization aims to streamline the group's holdings in Russia. The transaction involves a cash consideration of approximately INR 29 crore, subject to adjustments. The transfer is expected to be completed within 60-90 days and does not require governmental or regulatory approvals. Auro Pharma LLC was incorporated in July 2023 for manufacturing and marketing pharmaceutical products in Russia.