Aurobindo Pharma completes acquisition of Natrol for over Rs 810 crore

Aurobindo Pharma, the domestic drugmaker, has completed the acquisition of assets US-based nutritional supplement maker Natrol Inc and its other affiliate entities for over Rs 810 crore (US $132.5 million).

Aurobindo Pharma acquired "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 US $132.5 million", the company said in a statement.

The home-grown drug firm had emerged as the highest bidder to acquire assets of Natrol under the auction process by the United States Bankruptcy Court for the District of Delaware.

"The assets have been acquired under a wholly owned subsidiary 'Nature Acquisition LLC' and since changed to 'Natrol LLC'. The final terms of acquisition are the same as originally envisaged during announcement made earlier," the company's statement said.

About the acquisition, Aurobindo Pharma Managing Director N Govindarajan said, "Natrol comes with certain well established brands and an extensive distribution network consisting of retail pharmacy chains and speciality health food stores, to help us tactically position ourselves in the US nutraceuticals space and offer an effective growth strategy to expand market penetration going forward."

"We look forward to working with the Aurobindo team to further expand our over-the-counter product portfolio and our reach with the financial support of strong owners," Natrol CEO Mesrop Khoudagoulian said.

Shares of Aurobindo Pharma on Friday closed at Rs 1,123.60 a piece, down 0.68 per cent from its previous close on the Bombay Stock Exchange.