Aptuit to acquire 51 p c stake in Aptuit Laurus

Hyderabad, June 18 (UNI) Global contract drug development firm Aptuit Inc. today announced that it would acquire majority stakes in Aptuit Laurus with the investment of USD 100 mn by 2009 after Hyderabad-based Laurus Labs Limited merged with it to form Aptuit Laurus, a contract drug development firm in India.

Aptuit has plans to invest over USD 100 million over the next four years to build upon Aptuit Laurus' development, manufacturing and informatics capabilities.

The company expects USD 10 million revenue from the new entity in the year of operation, Aptuit Inc chairman Michel Griffith and Laurus Labs chairman Satyanarayana Chava told media here after signing the deal on the new company in Atlanta, USA.

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