Aurobindo Pharma has reportedly emerged as the frontrunner to acquire Prague-based Zentiva for $5-5.5 billion from Advent International, securing a $4.75 billion bridge loan from MUFG. This would be India's largest pharma deal, surpassing Biocon's Viatris and Daiichi's Ranbaxy buys. Shares fell 3.3% as investors weighed debt risks, even as the acquisition could boost its European presence.