Business Update26 May 2025, 10:21 pm
Aurobindo Pharma Subsidiary Faces Rs. 40 Million Loss After Safety Incident; Awaits APPCB Approval
AI Summary
Aurobindo Pharma Ltd. provides an update on the safety incident that occurred at Lyfius Pharma Private Limited, a wholly owned stepdown subsidiary, on April 27, 2025. The preliminary assessment of the loss is estimated to be around Rs. 40 million. Lyfius is in the process of submitting its final claim with the insurance company. The renewal application for ‘consent to operate’ has been submitted to Andhra Pradesh Pollution Control Board (APPCB), and the approval is awaited. Lyfius will resume production once the approval is received from APPCB. Further developments on these matters will be disclosed to the stock exchanges.
Key Highlights
- Safety incident at Aurobindo Pharma subsidiary, Lyfius Pharma Private Limited
- Preliminary loss assessment of around Rs. 40 million
- Lyfius submitting final claim with insurance company
- Renewal application submitted to APPCB for ‘consent to operate’
- Production to resume once APPCB approval is received