Aurobindo Pharma to sell its US unit for $550 million

Aurobindo Pharma on Monday said it will sell Natrol, a unit of its US subsidiary, to private equity firm New Mountain Capital for $550 million. The Hyderabad-based firm said the transaction is expected to close by January 2021. Aurobindo's Managing Director added that proceeds from Natrol's sale will be used to reduce debt and other new strategic initiatives.