To develop and commercialise dermatology products for global markets
Alembic Pharmaceuticals has entered into a joint venture agreement with Orbicular Pharmaceutical Technologies to develop, manufacture and commercialise dermatology products for worldwide markets.
Orbicular has capabilities in developing dermatology products with a fully-equipped and staffed research laboratory in Hyderabad and has a pipeline of products under various stages of development.
APL and Orbicular will own 60 per cent and 40 per cent of the equity capital of Aleor when the transaction is completed. The JVA has standard terms including transfer of employees, financing and borrowing, management functioning, restriction on transfer of shares, non-compete, non-solicitation and termination events and consequences.