Shares of Aurobindo Pharma gained more than 2 percent intraday and Plethico Pharmaceuticals rallied 20 percent on Thursday on settlement agreement related to acquisition of Natrol, USA.
Shares of Aurobindo Pharma gained more than 2 percent intraday and Plethico Pharmaceuticals rallied 20 percent on Thursday on settlement agreement related to acquisition of Natrol, USA.
According to a media report, Aurobindo Pharma has alleged fraud by owners of Natrol bought by the company from Plethico Pharma, saying contracts worth USD 25 million were fictitious.
In a reply to the exchange today, Aurobindo Pharma said Natrol LLC owned by the company had approached the Delaware Bankruptcy Court on April 6, 2015 in respect of acquisition of assets of Natrol, USA regarding certain discrepancies and non-performance of obligations by erstwhile owners, Plethico.
Subsequently, discussions were held between Natrol LLC and Plethico group for resolution. Based on the discussions a settlement agreement has been reached, wherein Plethico group would assign USD 23.3 million in cash in milestone payments, certain global IP rights and other assets," it added.
Aurobindo's 100 percent subsidiary Aurobindo Pharma USA acquired the US-based neutraceutical company Natrol for USD 132.5 million through an auction process conducted by United States Bankruptcy Court for the District of Delaware in November, 2014.
The above acquisition was completed by Aurobindo Pharma USA Inc on December 5, 2014 and that included manufacturing assets, personnel, commercial infrastructure etc., including nutraceutical brands in USA of Natrol along with an agreement to take certain liabilities.
At 11:47 hours IST, the scrip of Aurobindo Pharma was quoting at Rs 1,332.25, up Rs 9.10, or 0.69 percent while Plethico Pharmaceuticals was locked at 20 percent upper circuit at Rs 40.85 on the Bombay Stock Exchange.
Posted by Sunil Shankar Matkar
Anda sedang membaca artikel tentang
Aurobindo, Plethico rally post settlement over Natrol USA
Dengan url
https://rokokkanker.blogspot.com/2015/04/aurobindo-plethico-rally-post.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Aurobindo, Plethico rally post settlement over Natrol USA
namun jangan lupa untuk meletakkan link
Aurobindo, Plethico rally post settlement over Natrol USA
sebagai sumbernya
0 komentar:
Posting Komentar