Drugmaker Aurobindo Pharma will acquire domestic formulation company Veritaz for Rs 171 crore in a cash-free and debt-free way. The transaction will come into effect on April 1st and will be completed by May 2022. This transaction will also mark the entry of Aurobindo in the domestic market.

Presently, 90% of Aurobindo's sales come from the international market. Veritaz’s acquisition will also help Aurobindo market other biosimilar products. Aurobindo was founded by K. Nityananda Reddy and P. V. Ramprasad Reddy.

Veritaz’s largest brands are Fepanil and Merogram which clocked a revenue of Rs 51 crores in December 2021. The brand has 180 trademarks registered under its name. They mostly cater to anti-infective and pain management therapeutic areas with a presence in over 20 cities and a retailer network of over 50,000. They also plan to enter other categories like cardio-diabetic, orthopaedic and gynaecology. 

Veritaz is Aurobindo’s 7th acquisition. Aurobindo Pharma had first acquired Trident Life Sciences in 2009 for $27.9 million. In 2013, they acquired Hyacinths Pharma and Silicon life Sciences. In 2014, Natrol was acquired for $133 million. Two years later, Generis Farmacêutica was acquired for €135 million. Sandoz International was acquired for $900 million in 2018.