Aurobindo Pharma shares up nearly 5 per cent on bourses

Written by PTI | Mumbai | Updated: Apr 3 2014, 01:08am hrs
India Pharma sector'Actavis and Aurobindo have also entered into a long-term commercial and supply arrangement'
Shares of Aurobindo Pharma today climbed nearly 5 per cent after the company completed acquisition of certain commercial operations of Actavis Plc in Western Europe.

The drug major's scrip ended the day at Rs 558.80, up 4.51 per cent at the BSE. In intra-day, the stock rose by 6.52 per cent to Rs 569.60 -- its 52-week high.

At the NSE, Aurobindo's scrip ended at Rs 559.65, up 4.74 per cent from its previous close.

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The agreement to acquire Dublin-based Actavis' operations was announced in January 2014.

"Following receipt of clearances from competent authorities, Aurobindo intends to combine the strength of both enterprises in these markets and to identify and maximise all opportunities to improve performance," Aurobindo had said yesterday.

Actavis and Aurobindo have also entered into a long-term commercial and supply arrangement, it said.