Homegrown pharma major Alembic Pharmaceuticals on Tuesday announced it has acquired the balance 40% stake in Aleor Dermaceuticals Ltd from its joint-venture partner Orbicular Pharmaceutical Technologies Private Ltd. The company did not disclose the deal size.
Homegrown pharma major Alembic Pharmaceuticals on Tuesday announced it has acquired the balance 40% stake in Aleor Dermaceuticals Ltd from its jointventure partner Orbicular Pharmaceutical Technologies Private Ltd. The company did not disclose the deal size. Alembic already had a majority stake in the company. Aleor Dermaceuticals has product offerings across cream, gel, ointment, shampoo, lotion, solutions, sprays, foams, microsponge and nano-particulate platform-based products and has a formulation manufacturing facility in Gujarat. The facility is a US FDA-inspected facility and sells its products in the US market. The board of Aleor has been reconstituted with Orbicular nominees resigning from the board. The board of Alembic has also approved, subject to approval from NCLT and other regulatory bodies, the merger of Aleor with Alembic. Pranav Amin, MD, Alembic, said,
