Indian pharmaceutical company Aurobindo Pharma Ltd will purchase Hyderabad-based Trident Life Sciences Ltd for about Rs 1.34 billion ($27.85 million).

In a statement to the Bombay Stock Exchange (BSE), Aurobindo Pharma official said, “The board has approved the acquisition of 100 per cent stake of TLSL subject to suitable agreements between the parties for the same and conditions customary to the closing of the transaction.”