Acrotech Biopharma LLC (Acrotech), a wholly-owned subsidiary of Aurobindo Pharma USA Inc., which in turn a wholly-owned subsidiary of Aurobindo Pharma, will be acquiring the portfolio on a debt free and cash free basis.
This acquisition is in line with our strategy to commercialize innovative proprietary medications.
The acquisition will help Aurobindo Group to enter the branded oncology market with a range of products which are well recognized by the oncology community. Aurobindo Group will also acquire a well-established and experienced branded commercial infrastructure to continue commercializing these brands.
The transaction is expected to close within 90 days of signing following the completion of customary as well as regulatory conditions, including FTC clearance.
Under the terms of the deal, Aurobindo will make $160 million up-front cash payment and up to $140 million in milestones.
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