Templeton Emerging Markets, part of the Franklin Templeton Group, is subscribing to the private placement of Aurobindo Pharma Ltd shares. Templeton  has confirmed its subscription to  one million equity shares and one million share warrants. On subscription to both of the securities, the Templeton group  will become one of the major shareholders in the Company after the Promoters and will have representation  on the Board of Aurobindo.

Welcoming Templeton’s decision, 
Mr. P.V. Ramaprasad Reddy, Chairman, Aurobindo Pharma said, “Templeton’s international financial expertise and its exposure to major international pharma majors would tremendously benefit Aurobindo  in further consolidating  its position in emerging markets as well as North America & Europe.  Our major growth initiatives are on track and with Templeton coming on Board, our growth will receive a further impetus.” 

Dr. Mark Mobius, President of Templeton Emerging Markets said: “We are confident that the excellent management of Aurobindo Pharma will enable the firm to take its place as a major global pharmaceutical presence. Our investment in the company is being made in order to speed its development and growth.”

Aurobindo Pharma, the Rs.1000 crore pharma major, with an export base over Rs. 550 crores, has embarked on a major initiative to enter the pharmaceutical markets in developed countries.  Towards achieving this objective, two formulation plants and two mega bulk plants are being simultaneously upgraded to comply with USFDA and other regulatory authorities.  Apart from this, a formulation facility is in an advanced stage of completion in USA under a joint venture. Very soon, Aurobindo shall be filing ANDAs /DMF/COS for several cephalosporins, CNS, CVS and Respiratory drugs.

The state-of-the-art R&D centre set up two years ago has worked on intellectual property and filed several patents to back up the above introductions in developed markets.

With the restructuring of manufacturing in the final stages of completion, Aurobindo is poised to be a mega force from India in regulated markets with significant intellectual property backing up its efforts. 

Aurobindo is amongst the leaders in cephalosporins, semi synthetic pencillins, and antivirals. R&D efforts have led growth in semi-synthetic penicillins by launching advanced generation penicillins and third and fourth generation sterile and non-sterile cephalosporins. In several drugs, Aurobindo has created the record of being the first after original company in the world. Aurobindo has successfully set up manufacturing operations  in China through joint ventures and has begun the phase 2 expansion.  

 To aid its growth in developing markets, Aurobindo has increased its portfolio and therapy areas.  Over 32 life style drugs have been added to its portfolio in the last few quarters in addition to its dominant presence in SSPs, cephalosporins, antiinfectives and anti-virals with a portfolio of over 70 anti-infective drugs.  Aurobindo is also participating in the international generic market and has filed over 800 dossiers in over 62 countries.

Aurobindo has appointed the Ernst & Young affiliate S R Batliboi & Co as their auditors and has almost migrated to US GAAP.

Templeton's association and its expertise in international pharma sector  will benefit  Aurobindo's efforts to become an R&D led international pharma company with demonstrated leadership in lifestyle diseases and infection. 

Templeton Emerging Markets is the emerging markets investment arm of Franklin Templeton Investments. Franklin Templeton Investments, with US$232.0 billion of assets under management, is dedicated to investment management and is one of the world’s largest independent listed fund managers. The Group’s parent company, Franklin Resources Inc., trades on the New York Stock Exchange under the ticker symbol BEN and it holds an S&P rating of A+, the highest in its industry peer group.  More than 25 Franklin Templeton Investments funds have received Morningstar’s highest rating of five stars.  Templeton Emerging Markets has research offices in 12 countries staffed by a team of 25 analysts worldwide.

Aurobindo plans to get listed on international stock exchanges in next eighteen months.