The board of directors of Solara Active Pharma Sciences on 9 April 2021 approved the amalgamation of Aurore Life Sciences, Empyrean Lifesciences and Hydra Active Pharma Sciences with the company.The combination creates a pure play API company of scale with strong presence in regulated markets, emerging markets, a broad product portfolio, robust operations infrastructure, excellent R&D capabilities and clear synergies to further accelerate growth for the combined entity.
The merger is EPS accretive to Solara and will enhance other important financial ratios for Solara. The merger is in line with Solara s strategy of accelerating growth via appropriate inorganic actions. The combined entity will have the scale of market presence and product portfolio combined with robust manufacturing and R&D infrastructure to grow into a leading global pure play API and CRAMS company.
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