A meeting of the Board of Directors of Aurobindo Pharma Ltd will be held on November 15, 2002 to consider amalgamation of Ranit Pharma Ltd & Calac Private Ltd with the company, the company informed BSE. The company is one of the world's top five manufacturers of semi synthetic penicillins.
On April 4, 2002, the company had acquired 79.37 per cent equity in Ranit Pharma for Rs 10 crore. The board had approved the acquisition of 68,97,525 equity shares of Rs.10 each of Ranit Pharma at Rs.14.50 per share.
Ranit Pharma is a profit making, dividend paying and an unlisted subsidiary company of Aurobindo Pharma.
Aurobindo has a presence in key therapeutic segments like SSPs, cephalosporins, antivirals, CNS, cardio-vascular, gastroenterology etc.