Aurobindo Pharma Ends Vaccine Pact with Singapore's Hilleman Labs

Aurobindo Pharma's subsidiary, Auro Vaccines, has ended its license agreement with Hilleman Laboratories to develop a pentavalent vaccine for children. This termination, involving a non-material subsidiary and early-stage vaccine, has no major impact on Aurobindo's financials or operations.

In a recent development, Aurobindo Pharma announced that its subsidiary, Auro Vaccines, has terminated a license agreement with Singapore-based Hilleman Laboratories. The agreement was meant to develop and commercialize a pentavalent vaccine candidate aimed at children's immunization.

The Hyderabad-based pharmaceutical giant emphasized that Auro Vaccines is not a material subsidiary, and the cessation of the license agreement for this early-stage vaccine is not a significant event. Therefore, the termination will not substantially impact the company or its financial situation.

Auro Vaccines and Hilleman Laboratories initially signed the agreement on September 27, 2023. Despite the termination, shares of Aurobindo Pharma saw an increase, trading 3.83% higher at Rs 1,092.05 per share on the BSE.