Aurobindo Pharma to buy US nutritional supplements maker | business | Hindustan Times
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Aurobindo Pharma to buy US nutritional supplements maker

Indian generic drugmaker Aurobindo Pharma Ltd said on Wednesday its US unit won a bankruptcy auction to buy nutritional supplements maker Natrol Inc for $132.5 million.

business Updated: Nov 12, 2014 14:07 IST
Aurobindo Pharma

Indian generic drugmaker Aurobindo Pharma Ltd said on Wednesday its US unit won a bankruptcy auction to buy nutritional supplements maker Natrol Inc for $132.5 million.

Aurobindo said the deal with Chatsworth, California-based Natrol, which sells vitamins and supplements as well as diet and weight management products, will help the company expand its over-the-counter products business in the United States.

The deal is pending final approval by the United States Bankruptcy Court for the District of Delaware, Aurobindo said in a statement.

Barclays provided legal advice to Aurobindo on the deal, while Sullivan & Cromwell LLP was the company's legal counsel.

Aurobindo's shares were up 4 percent at 1,066 rupees at 10.17 am on Wednesday, while the Nifty was up 0.4%.