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Aurobindo Pharma on Thursday said it will acquire a 51% stake in generic veterinary pharma firm Cronus Pharma Specialties India for Rs 420 crore ($56 million)

Aurobindo Pharma on Thursday said it will acquire a 51% stake in generic veterinary pharma firm Cronus Pharma Specialties India for Rs 420 crore ($56 million).  

The company said the acquisition is expected to be completed in eight weeks and that it will pay cash for the stake.   

The deal is expected to give Aurobindo a foothold in the $48 billion global animal health market.  


Both Aurobindo and Hyderabad-based Cronus, incorporated in 2015, have manufacturing facilities in India and the US. 

Cronus has built a non-sterile and sterile facility in a special economic zone (SEZ) in India. The plant is yet to become operational, the company said in a statement.  

The veterinary pharma firm has over 67 products in its pipeline, of which 22 have been filed and six have been approved by the US regulator. The company also generates income as a contract research organisation.  

Aurobindo on Thursday said it had reported a 1.68 per cent decline in its consolidated net profit to Rs 770 crore for the quarter ended on June.  

DSK Legal acted as the legal counsel on this transaction.

The deal is expected to give Aurobindo a foothold in the $48 billion global animal health market.

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