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Synopsis
Aurobindo Pharma has built a strong and diverse product pipeline to drive future growth. But corporate-governance issues and promoters’ history will be an overhang for the stock and are likely to have a bearing on investors’ perception of the second-largest pharma company in India in terms of revenue.
A deal done and undone in a jiffy has left Aurobindo Pharma in disarray. Not only has its stock been among the worst performers, the company’s reputation has also taken a beating. On August 12, Aurobindo Pharma announced its decision to acquire 51% stake in Cronus Pharma Specialities India Pvt Ltd, a company that makes veterinary pharma products, for a cash consideration of INR420 crore. On the same day, Aurobindo Pharma also reported
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