Image default
Water News

Aurobindo Pharma inks pact with New Mountain Capital to sell US-based unit for USD 550 mn

HYDERABAD: Indian generic drugmakerAurobindo Pharma(APL) has reached an agreement to sell its US stepdown subsidiaryNatrol, wholly-owned subsidiary of Aurobindo Pharma USA, toNew Mountain Capitaland its affiliateJarrow FormulasInc.

Aurobindo said it will dispose of Natrol’s business assets as a going concern with related assets, liabilities, products, brands and employees. In a statement on Monday, APL said the all-cash transaction was valued at $550m (Rs 4,048 crore). However, the company said the transaction is subject to customary closing conditions and regulatory approvals, and is expected to be closed by January next.

Natrol, which APL acquired in December 2014, has been a consistently profitable business and growing on all fronts under its ownership, claimed APL. The annual sales of Natrol for the 12 months ended March 2020 stood at $156.66 million while the net worth amounted to $82.41million.


Founded in 1980 as a cosmetics company, Natrol evolved over the last few decades into a leading US vitamin, mineral and supplement manufacturer. Its product range also includes herbs and botanicals, multivitamins, specialty and sports nutrition, among others, to manage and maintain good health, Aurobindo plans to use the proceeds from Natrol’s sale to reduce debt and fund new strategic initiatives.

“Aurobindo is committed to evaluating and concluding strategic options towards focused portfolio enhancement with the objective of enhancing stakeholder values,” said APL managing director N Govindarajan. “We are pleased to sell the Natrol business to an outstanding private equity player, who could focus additional resources to grow Natrol, its products and brands further.”

(Catch all theBusiness News,Breaking NewsEvents andLatest NewsUpdates onThe Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.


Related posts

Covid-19 shots may come under universal immunisation programme


Global warming is changing our plant communities


Serum Institute manufacturing first batch of Covovax COVID-19 vaccine, says Adar Poonawalla


Leave a Comment