Aurobindo Pharma 's biologics subsidiary TheraNym Biologics has announced the execution of an additional product schedule with Merck Sharp & Dohme Singapore Trading Pte. Ltd. (MSD), further expanding their existing contract manufacturing relationship. The development involves a significant greenfield manufacturing facility investment as disclosed under SEBI regulations.

Macquarie's Investment Outlook

Macquarie has maintained its Underperform rating on Aurobindo Pharma with a target price of ₹1,050. While the expanded biologics manufacturing deal with Merck validates the company's biologics capabilities, analysts expect meaningful financial upside only in 3-4 years as the facility ramps up operations.

Enhanced Partnership with Merck Sharp & Dohme

TheraNym Biologics has strengthened its collaboration with MSD by executing an additional product schedule that expands the existing CMO agreement initiated in May 2024. This latest development serves to further broaden the scope of their strategic partnership in biologics manufacturing.

Major Manufacturing Investment - Unit 2

Under the newly signed product schedule, TheraNym Biologics will construct a greenfield project for commissioning a large scale mammalian Drug Substance manufacturing facility designated as "Unit 2". The facility will house substantial bioreactor capacity with requisite downstream purification infrastructure.

Regulatory Compliance and Business Rationale

The company has made the disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. According to the regulatory filing, TheraNym will build the manufacturing facility, manufacture the products and supply to MSD as per the arrangement. The initiative aims to further expand the existing relationship in contract manufacturing operations for biologicals, strengthening the company's position in the growing biologics manufacturing sector.

Aurobindo Pharma Limited has submitted its quarterly compliance certificate to the National Stock Exchange of India Limited and BSE Limited, fulfilling regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Filing

The pharmaceutical company filed its certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 on April 9, 2026, covering the quarter ended March 31, 2026. The certificate was signed by B. Adi Reddy, Company Secretary, and submitted to both major stock exchanges where the company's shares are traded.

Certificate Confirmation

The filing certifies that details of securities dematerialized and rematerialized during the quarter ended March 31, 2026 have been properly furnished to all stock exchanges where the company's shares are listed. This compliance ensures transparency in the dematerialization and rematerialization process of the company's securities.

Supporting Documentation

The submission included supporting certificates from KFin Technologies Limited, the company's Registrar and Transfer Agent, dated April 1, 2026. KFin Technologies provided separate certificates to both the National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL), confirming compliance with the regulatory requirements.

Stock Exchange Notification

The certificates were addressed to both the National Stock Exchange of India Limited (company code: AUROPHARMA) and BSE Limited (company code: 524804). The filing ensures that all dematerialized securities continue to be listed on the same stock exchanges where the company's previously issued securities were traded.

This routine compliance filing demonstrates the company's adherence to SEBI regulations governing depositories and participants, maintaining transparency in securities handling and investor protection measures.