Country's generic drugmaker Aurobindo Pharma said on Wednesday its US unit won a bankruptcy auction to buy nutritional supplements maker Natrol 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 per cent at 1,066 rupees at 10:17 am on Wednesday, while the Nifty was up 0.4 per cent.