Aurobindo Pharma to acquire product under development & related assets from Advent Pharmaceuticals

Aurobindo Pharma Ltd, a Hyderabad-based drugmaker, will acquire a product under development and related assets from Australia-based Advent Pharmaceuticals Pty Ltd for $12.5 million in cash.

The deal is expected to close by January 2019. This acquisition will help Aurobindo to boost its research and development capabilities in complex speciality generics.

Advent Pharmaceuticals is a speciality research and development company, which focuses on generic inhaled products for global markets.