Alembic Pharma acquires 100 per cent stake in Aleor Dermaceuticals
The amalgamation will integrate business operations and provide impetus to the existing portfolio of Alembic
Alembic Pharma has acquired the remaining 40 per cent stake in Aleor Dermaceuticals from its JV Partner Orbicular Pharma Technologies to strengthen its skin-related manufacturing and marketing footprint. Aleor has product offerings across cream, gel, ointment, shampoo, lotion, solutions, sprays, foams, microsponge and nanoparticulate platform-based products, Alembic Pharma said in a statement.
The amalgamation will integrate business operations and provide impetus to the existing portfolio of Alembic. The acquisition augers well with the strategic planning and growth trajectory set by the company to capture higher market share in various segments of its pharma business, the statement added.
It also said that the Board of Directors of Aleor has been reconstituted with Orbicular nominees resigning from the Board. The Board of Directors of Alembic has also approved, subject to approval from NCLT and other regulatory bodies, the merger of Aleor with Alembic.
According to IQVIA prognosis report, the dermatology market is forecasted to grow in double digits and increase its market share within the pharma market. The acquisition will unlock the full potential of Aleor and drive significant value creation through synergies with Alembic, the statement further mentioned.
The combined entity will have a bigger portfolio of products and direct access to markets, which will strengthen the overall capabilities to serve more efficiently across different therapies, both overseas as well as domestic. Further, the growth of business envisages adequate capital and resources commitments, and, hence, the merger shall enable the pooling of abundant resources and impetus to the growth at a consolidated level.