AUROBINDO PHARMA LTD

Aurobindo Pharma Limited (APL), one of the world's top 5 manufacturers of semi synthetic penicillins was incorporated in 26th December 1986 as a private limited company. Mr. P.V.Ramaprasad Reddy, Mr. K.Nityananda Reddy and a small, highly committed group of professionals founded it. APL is developing, manufacturing and marketing active pharmaceutical ingredients (APIs also referred as bulk actives), intermediates and generic formulations. The company's robust product portfolio is spread over 6 major product areas encompassing (Antibiotics, Anti-Retro Virals, CVS, CNS, Gastroenterologicals, and Anti-Allergics) with around 65 APIs in the non-antibiotics and over 55 APIs in the antibiotic segment and the World Health Organization (WHO), Geneva, has also approved Aurobindo's products. APL is running with 24 manufacturing plants across the world conforming to GMP/ISO regulations and an extremely well equipped 9 R&D facilities. Aurobindo Pharma has identified international operations also catering to over 150 countries. The Company has accelerated the DMF/ANDA filings programme in its efforts to build a broad product portfolio for the regulated markets. Cumulatively, the Company has filed a total of 337 DMFs (Drug Master Files), of which 110 are with US FDA, and 133 in Europe including with the EDQM and 102 in other countries. This is one of the highest filings. The Company commenced its operations during the year 1988-89 with a single unit manufacturing semi synthetic penicillins (SSPs) at Pondicherry and it became a public venture in 1992. In the same year 1992, another unit was also set up for the manufacture of CMIC Chloride, a bulk drug intermediate at Pashamylaram, near Hyderabad through another company, namely Chaitanya Organics Pvt. Ltd. Later in 1994-95, it was merged with the company. The commercial production of the pharmaceutical formulation unit was started in April of the year 1994. Aurobindo Pharma had gone public in 1995 by listing its shares in various stock exchanges in the country. Glaxo (India), the Indian subsidiary of the UK-based multinational came to an alliance with the company to meet its global bulk drug requirements during the year 1997. In the year 1998, the company had launched new formulations like auronim Suspension in the paediatric segment. During 1999-2000, the company diversified its product portfolio further with the introduction of wide range of Cephalosporins (Oral & Sterile) and anti - virals in addition to macrolides, anti-ulcerants, quinolones, semi-synthetic penicillins and formulations for domestic and export market. APL made Joint Ventures for formulations business in US, with an investment of a million in the year 2000. Sri Chakra Remedies Ltd was amalgamated with the company in the identical year of 2000. The Company has launched an exclusive anti-viral division Immune during the year 2001 to educate and to provide preventive drug care for HIV/AIDS patients in the country. APL had launched two more drugs in the same year of 2001, namely Efavirenz (Viranz) and Nelfinavir (NELVEX) for the treatment of AIDS. During the year 2001-02 the company acquired 79% stake in Ranit Pharma Company under the same management. Ranit Pharma and Calc Private Ltd were amalgamated with APL as at 1st April of the year 2002. Citadel Aurobindo Biotech Ltd, a 50:50 Joint Venture (JV) Company introduced Aztreonam a Monabactam Betalactam antibiotic for the first time in the Indian Pharma Market with a brand name 'TREONAM' in the year 2003. During the same year the JV was happened between APL and Shanxi Tongling Pharmaceuticals Company, as an upshot formulated the JV Company under the name of Aurobindo Tongling (Datong) pharmaceuticals Ltd, China, for manufacture of pharmaceutical products to the local market. APL's 100% subsidiary company in China had commenced its commercial production during the year 2003-2004, which was formulated to procure raw material 6 APA at an economical cost. APL also launched the second JV Company in US for the purpose of Research and Development. During the year 2004, the company received its first Certificate of Suitability (CoS) approval from the European Directorate for Quality Medicines (EDQM) for its product in the therapeutic segment of gastroenterology. During the year 2004-05 the company acquired a sterile plant of Dee Pharma for the consideration of Rs.38 million which located at Bhiwadi in Rajasthan. US FDA part of Department of health and human science approved the Unit VIII facility of the company in the year of 2005 as a site to manufacture of APIs for the US Market. Also in the same year APL had received US FDA clearance for AIDS drug. The State Labour Department of the Government of Andhra Pradesh has awarded the 'Best Management Award' for the year 2005 for the Company's contributions towards community development, harmonious employee relations and their welfare. During the year 2005-06, the company made a strategic entry with its generic formulations in the premium markets of USA & Europe, participated in the PEPFAR program initiated by the Government of USA and consolidated its strengths in the less regulated and emerging markets. Also in same year APL had acquired the UK based Milpharm Limited, the generic formulation pharmaceutical company engaged in marketing generic formulations mainly in the UK market. During March of the year 2007, the US FDA has granted final approval for the Company's Didanosine Oral Suspension (Pediatric Powder) 10 mg / ml. As at June 13th of the year 2007 the Company unveiled their new Logo and Corporate Identity at a ceremony in Hyderabad. The new corporate logo reflects this pace and leadership. Artistic lines intersect to make up the company's initials 'A' and 'P'. The way the initials 'A' and 'P' have joined conveys the spirit of 'partnership' with the company's business. The Hon'ble High Court of Andhra Pradesh has approved the scheme of arrangement for merger of APL Life Sciences and Senor Organics into the company and the utilisation of share premium account of the company during June of the year 2007. APL concluded a strategic deal, for acquisition of intellectual property & marketing suthorizations, with TAD Italy, a generic company registered in Italy during March of the year 2008. This acquisition will give Aurobindo an access to more than 70 ready to market products, which will fast track Aurobindo's entry into the Italian generic market. As a part of this deal, APL also acquired high profile OTC brands - Mapooro and Carmiooro from TAD in same period of the year 2008. On 6 September 2010, Aurobindo Pharma announced that it has entered into licensing and supply agreements with AstraZeneca, one of the world's leading biopharmaceutical companies, to supply several solid dosage and sterile products for emerging markets. On 11 January 2011, Aurobindo Pharma announced that it had entered into a definitive agreement with China National Pharmaceutical Group Corporation (Sinopharm) to divest in its subsidiary company Aurobindo (Datong) Bio Pharma Co Ltd, China (ADBPL), subject to regulatory approvals. ADBPL is engaged in manufacturing of 6APA, a derivative of Penicillin-G. Aurobindo Pharma decided to retain 19.50% stake in ADBPL so as to ensure uninterrupted supply of raw materials at competitive price. On 7 September 2011, Aurobindo Pharma announced the establishment of an equal joint venture in Russia with OJSC DIOD to manufacture and sell pharmaceuticals in Russia, Belarus and Kazakhstan. On 1 April 2014, Aurobindo Pharma announced the completion of the acquisition of certain commercial operations in Western Europe from Actavis plc, a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. The agreement to acquire the Actavis operations was announced in January 2014. On 5 December 2014, Aurobindo Pharma announced the completion of acquisition of assets of nutritional supplement maker, Natrol Inc. and other affiliate entities (Natrol) through its wholly owned subsidiary Aurobindo Pharma USA Inc. (APUSA). On 12 November 2014, APUSA emerged as the highest and best bidder to acquire assets of Natrol under the auction process by the United States Bankruptcy Court for the District of Delaware. APUSA acquired the manufacturing assets, personnel, commercial infrastructure including the well established nutraceuticals brands in USA of Natrol along with an agreement to take on certain liabilities, with a bid of $132.5 million. On 25 November 2016, Arrow Generiques SAS, a French subsidiary of Aurobindo Pharma Ltd, announced the signing of an agreement to acquire the right, title and interest in its products Calcium and Calcium Vitamin D3 in France, including the use of the OROCAL trademark, from Teva Pharmaceutical Industries. On 7 January 2017, Aurobindo Pharma announced the signing of a binding agreement by and through its wholly owned step-down subsidiary, Agile Pharma B.V, Netherlands, to acquire Generis Farmaceutica SA, a Portuguese pharmaceutical company, for a total consideration 135 million Euro, including net working capital of 21.7 million Euro. On 9 February, 2017, Aurobindo Pharma announced the acquisition of four cell culture derived biosimilar products from TL Biopharmaceutical AG. As part of this agreement, TL will supply all the developmental data for four molecules and Aurobindo and/or its affiliates will develop, commercialize and market these products globally. As on 31 March 2018,the company has 56 subsidiary companies under its roof. During the FY2018,the company launched 38 products including 6 injectables in the US. As on 31 March 2018, the Company filed 478 ANDAs on a cumulative basis. During the year 2018, Agile Pharma BV, a step down subsidiary of the Company acquired Generis Farmaceuita SA and its 4 subsidiaries viz. Mer Medicamentos, Portugal, Generis Phar, Portugal, Pharma APS, Portugal and Generis Mozambique, Portugal. Post acquisition of Generis Farmaceuita SA, Portugal, as part of restructuring of operations in Portugal, Aurobindo Pharma (Portugal) Unipessoal Limitada and Aurovitas, Unipessoal LDA, Mer Medicamentos, Lda, Farma APS and Generis Mozambique have been either merged with Generis Farmac utica SA or liquidated. On May 28, 2019 the Board of Directors had accorded its approval for the draft scheme for merger of Company's 5 (Five) Wholly Owned Subsidiaries (i.e. APL Research Centre Limited, Aurozymes Limited, Curepro Parenterals Limited, Hyacinths Pharma Private Limited and APL Healthcare Limited) and 1 (one) step-down wholly owned subsidiary (i.e. Silicon Life Sciences Private Limited) with the Company. No shares of the Company will be issued as consideration for the said amalgamation and the shares held by the Company in its wholly owned subsidiaries and step-down wholly owned subsidiary shall stand cancelled. The Scheme would be subject to the requisite statutory/ regulatory approvals including the approval of the National Company Law Tribunal (Hyderabad Bench). Pursuant to the orders dated 30 September 2019, the required approvals of the Shareholders and unsecured creditors were obtained at the meetings held on 30 November 2019. The Company has made an investment of Rs 150 million in Synergy Remedies Private Limited (Synergy), a Tirupathi based pharma company and acquired 19.9% holding in the said company. The objective of this acquisition was to ensure assured supplies of some of the APIs and intermediates. During the FY2020,the Company through Auro Vaccines LLC, 100% subsidiary of Aurobindo Pharma USA Inc., USA, which in turn is 100% subsidiary of the Company, acquired certain R&D assets from Profectus BioSciences Inc'., USA, a clinicalstage vaccine development company in the design and development of preventive and therapeutic vaccines for an upfront cash consideration US$11.29 million with potential earn outs on achieving certain milestones. This acquisition provided access to Proprietary & Innovative technology platforms for Prophylactic use & Therapeutic use along with Global R&D center to develop newer vaccines from basic discovery research into FDA-approved product. The Board of Aurobindo Pharma Limited on 3rd June 2020 had approved the transfer of Company's Biosimilar business and related R&D manufacturing facilities (Unit-17 and R&D-3) situated at survey No. 77 & 78, Indrakaran Village, Kandi Mandai, Sanga Reddy District, Telangana to its newly incorporated wholly owned subsidiary CuraTeQ Biologics Private Limited (CuraTeQ), through a slump sale. On 25 October 2020, pursuant to the Board's approval, the Group entered into a definitive agreement to dispose of business assets of a wholly-owned step-down subsidiary, Natrol LLC, United States of America as a going concern with related assets, liabilities, products, brands and employees for a cash price of USD 550 million. The Board in its meeting held on 16 October 2020 decided to enter into a share purchase agreement to acquire 100% equity share capital of MViyes Pharma Ventures Private Limited. MViyes Is holding 32.18% shareholding In Eugia Pharma Specialties Limited, a joint venture company In which the Parent Company, through its wholly-owned subsidiary company, is holding 67.82%. By this acquisition, both Eugia Pharma Specialities Limited and MViyes Pharma Ventures Private Limited have become wholly owned subsidiaries. During the FY2021,the company has incorporated WYTELLS PHARMA PRIVATE LIMITED w.e.f 20 February 2021, as a subsidiary to Eugia Pharma Specialties Limited, India. During the period 2021-22, Aurobindo Pharma Gmbh Germany merged with Puren Pharma GmbH w.e.f. October 1, 2021. CuraTeQ Biologics GmbH was Liquidated w.e.f. October 7, 2021 and Longxiang Pharma Taizhou Co. Ltd. was Liquidated w.e.f. August 31, 2021. The Company has transferred 100% stake in Auro Cure Private Limited, a wholly-owned subsidiary of Company to Eugia Pharma Specialities Limited and consequently, Auro Cure Private Limited has become wholly owned step-down subsidiary of the Company. It transferred business undertaking comprised in Unit-16 of the Company, on a going concern basis, to Wytells Pharma Private Limited, a wholly-owned step-down subsidiary of the Company. i.e. , Wytells Pharma Private Limited is a 100% subsidiary of Eugia Pharma Specialities Limited which in turn is a wholly-owned subsidiary of the Company. It transferred vaccines business undertaking comprised in Unit-18, on a going concern basis, to Auro Vaccines Private Limited, a wholly-owned subsidiary of the Company; and also transferred equity shares of Tergene Biotech Private Limited, a subsidiary, to Auro Vaccines Private Limited, a wholly-owned subsidiary of the Company. The Board of Directors of the Company at its meeting held on July 1, 2021, has approved the transfer of business undertaking comprised in Unit·4, on an on-going concern basis, to Eugia Pharma Specialities Limited, a wholly-owned subsidiary of the Company. During the year 2022, Auro PR Inc, a subsidiary of Helix Healthcare B.V. Netherlands, acquired certain properties including rights, title and interest in the assets and liabilities owned by Mylan LLC USA. The Company acquired the business of Veritaz Healthcare Limited on slump sale basis for a consideration of Rs. 1,710 million on March 28, 2022, which operates in the pharmaceutical industry in India and sells branded generic formulations and other health care related products. During the period 2022-23, Auro PR I LLC (formerly known as Mylan LLC) Merged with Auro PR Inc w.e.f. May 23, 2022. Theranym Biologics Private Limited was incorporated as wholly owned subsidiary of Curateq Biologics Private Limited w.e.f. September 22, 2022. PT Aurogen Pharma Indonesia was incorporated as a wholly owned stepdown subsidiary (99% held by Helix Healthcare BV and 1% held by Agile Pharma BV) w.e.f. July 1, 2022. 51% share capital of GLS Pharma Limited was acquired and it became a subsidiary with effect from August 17, 2022. The Company launched 34 products in USA, including 17 injectable products in 2023. It completed treatment phase of trastuzumab, a biosimilar to Herceptin, in a Phase 3 study comprising 690 metastatic breast cancer patients during 2022-23. It acquired 51% stake in the domestic oncology business of GLS Pharma Limited.