Aurobindo Pharma Ltd has divested its step-down subsidiary, Aurobindo Pharma (Australia) Pty Ltd to Eris Pharma Australia Pty Ltd.
The Hyderabad – based Aurobindo will, however, under an agreement continue to manufacture and supply the products to Eris Pharma for Australian and New Zealand market over next few years.
“This divestment is in line with APL’s Strategy of focusing on US, EU and Key Emerging Markets,” the Bombay Stock Exchange was informed on Friday.
The subsidiary was not contributing any profit to Aurobindo, it added.
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