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Aurobindo Pharma Arm Gets US Federal Trade Commission's Nod for $250 Million Lannett Acquisition

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Aurobindo Pharma's (NSE:AUROPHARMA, BOM:524804) wholly owned U.S.-based subsidiary has received approval from the U.S. Federal Trade Commission for the $250-million deal to acquire Lannett Company, according to a Monay filing to the Indian stock exchanges.

The transaction is expected to close before the end of June.

US-based Lannett specializes in the development and commercialization of complex, non-opioid controlled substances. Its acquisition is expected to expand Aurobindo USA's product offering.

It will also add Lannett's manufacturing facility in the U.S. to its network. The unit has the capacity to scale production to around 4 billion doses annually.

The acquisition is expected to be immediately accretive to Aurobindo Group's earnings per share and offer near-term financial benefits, along with cost and operational efficiencies.

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