Latest News | Aurobindo Pharma Completes Sale of Natrol LLC to New Mountain Capital

New Delhi, Dec 1 (PTI) Drug firm Aurobindo Pharma on Tuesday said it has completed the sale of Natrol LLC, a wholly-owned unit of its US-based subsidiary, to private equity firm New Mountain Capital.

In October this year, the company had announced that it had inked a pact to divest Natrol LLC to private equity firm New Mountain Capital for USD 550 million.

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"The aforesaid transaction has been completed on November 30, 2020," Aurobindo Pharma said in a regulatory filing.

Aurobindo Pharma had acquired Natrol in December 2014.

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Natrol's annual sales for the 12 months ended March 31, 2020, stood at around USD 157 million.

Earlier, Aurobindo Pharma Managing Director N Govindarajan had said that proceeds from Natrol's divestiture will be used to reduce debt and other new strategic initiatives.

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