On 5 April, Vadodara-based Alembic Pharmaceuticals said that it has possessed a 100% stake in Aleor Dermaceuticals. The objective is to strengthen the skin-related marketing and manufacturing footprint.
From its joint venture partner, Orbicular Pharmaceutical Technologies, Alembic Pharmaceuticals has collected its 100% stake in Aleor Dermaceuticals. Aleor’s board of directors has rejoined, and the nominees of Orbicular have resigned from the board. Alembic’s board of directors also approved it.
Alembic Pharmaceuticals will currently do skin-related marketing and strengthen its footprint with the acquisition. Also, it will complement its business across the United States and the remaining world. Subject to approval from the NCLT (National Company Law Tribunal) and several other regulatory bodies, the acquisition has been approved by the board of directors of Alembic Pharmaceuticals.
The result of the amalgamation of Alembic Pharmaceuticals
This particular amalgamation will incorporate business activities and offer impetus to Alembic’s existing portfolio. According to Alembic Pharmaceuticals, the company’s growth strategies and strategic planning will capture high market share in multiple segments of the pharma business.
Under Aleor, Alembic Pharmaceuticals not only possesses a USFDA approved facility but 15 products under development as well, along with 30 ANDAs (abbreviated new drug applications).
According to the managing director of Alembic, Pranav Amin, the act will bolster the global reach and facilitate cutting-edge development and research, which will further help them to offer scientifically proven products for peri-procedural use and regular skincare routine.
According to IQVIA’s prognosis report, the dermatology market will increase its market share in the pharmaceutical market in the future. The acquisition will unlock the raw potential of Aleor.
MS Mohan, the managing director of Orbicular Pharmaceuticals Ltd, has thanked Alembic for the enriching partnership and said that Orbicular would finetune its development potential and explore opportunities in the complex products.
The combination will facilitate a wider portfolio of products and will offer direct access to the markets. This will strengthen the potential for serving more effectively across distinct domestic and overseas therapies.
Besides, the business growth is committed to resources and capital. It means the merger will pool sufficient resources and grow significantly. With such progress, it can be easily said that pharmaceuticals will grow new-level in the foreseeable future.