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Aubindo's board members have approved its proposal to transfer biosimilars and its related R&D and manufacturing facilities, reported India Infoline.
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Specifically, the company will transfer its biosimilars business to another wholly-owned subsidiary, CuraTeQ Biologics, for a cash consideration of INR361.46 crore.
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CuraTeO was incorporated by Aurobindo on April 25 to carry the business of R&D in recombinant biologics product development, especially in areas of biosimilars drug substance development, proteins formulations, and commercialisation of products of its own or third party, the news source said.
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