Aurobindo Pharma has divested its step-down subsidiary, Aurobindo Pharma (Australia) to Eris Pharma Australia. The pharma major will however under an agreement continue to manufacture and supply the products to Eris Pharma for Australian and New Zealand market over next few years.
This divestment is in line with Aurobindo's strategy of focusing on US, EU and Key Emerging Markets. This subsidiary was not contributing any profit to the company.
Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company's robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics, supported by an outstanding R&D set-up.
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