Aurobindo Pharma has completed the acquisition of GLS Pharma Limited with a 51 per cent stake. In June, the Board of Aurobindo Pharma approved the stake acquisition in GLS Pharma for Rs 28 crore.

GLS Pharma Ltd. is a pharmaceutical company launched by experienced technocrats in the field of medicine. Over the years, it has become a significant player in the Indian pharmaceutical market, specialising primarily in Oncology (cancer chemotherapy and supportive chemo drugs).
Aurobindo Pharma acquired 51 per cent of the equity share capital of GLS Pharma Limited on August 17, 2022. With this, GLS Pharma has now become a subsidiary of the company. However, the acquisition process got delayed as it was expected to be completed before July 31, 2022. The company reported that this happened because of a delay in transferring the shares from one of the seller’s accounts to the company’s account. Also, the delay in fulfilment of one of the conditions precedent to the acquisition is another reason.

Aurobindo Pharma Limited is a Hyderabad-based multinational pharmaceutical manufacturing company. The company primarily manufactures generic pharmaceuticals and active pharmaceutical ingredients (APIs).