Hyderabad-based Aptuit Laurus's parent to acquire GSK's Verona research operations

The UK's largest pharma ceuticals firm GlaxoSmithKline  has finalised sale terms with for contract drug developer Aptuit to acquire operations at GSK's Medicines Research Centre in Verona, Italy.

Aptuit is a portfolio company of private equity investors firm Welsh, Carson, Anderson & Stowe.

It operates in India through its Hyderabad-based company, Aptuit Laurus Labs Private Limited.

Aptuit will combine its existing capabilities with the Verona Medicines Research Centre's expertise in drug discovery, lead optimisation, active pharmaceutical ingredient (API) development and manufacturing, and pre-clinical and clinical drug development.

The acquisition will also enhance Aptuit's ability to serve customers working to develop compounds for high-value and important therapeutic areas such as neurosciences discovery and development, as well as cardiovascular and infectious diseases.

The arrangement, which became effective as of 1 July 2010, provides for ongoing employment of the staff at the centre and for Aptuit to supply GSK with R&D services from the facilities. Financial terms have not been disclosed.