Aurobindo inks pact with Advent Pharmaceuticals for $12.5 million

To acquire Australian pharma firm’s product

Aurobindo Pharma said it’s wholly-owned subsidiary has entered into an agreement to acquire a product under development and related assets from Australia-based Advent Pharmaceuticals for $12.5 million.

“Our wholly-owned subsidiary, Aurobindo Pharma USA, USA, has entered into an agreement to acquire a product under development and related assets from Advent Pharmaceuticals, Australia, through AuroScience, Melbourne, a 100 per cent subsidiary of Aurobindo Pharma USA Inc, USA,” a regulatory filing from Aurobindo said.

Based out of Melbourne, Advent Pharmaceuticals is engaged in developing and commercialising generic inhaled medicines for global markets.