The acquisition increases Alembic’s breadth and capabilities in the US with a competent R&D team
Alembic Pharmaceuticals announced that through its wholly-owned subsidiary, Alembic Pharmaceuticals, it has completed the acquisition of West Caldwell, New Jersey, US-based generic drug developer, Orit Laboratories along with real estate, owned by Okner Realty.
With this acquisition, Alembic will now have a total of 69 abbreviated new drug application (ANDA) approvals (61 final and eight tentative) from United States Food & Drug Administration (US FDA).
Financial details of the transaction was not disclosed.
The acquisition increases Alembic’s breadth and capabilities in the US with a competent R&D team bringing complementary skill sets in soft gelatin based oral solids and oral liquids. Acquisition brings Dr Satish Patel, an experienced leader from the US generic pharmaceuticals industry to the Alembic group.
“This acquisition expands our basket of product offerings to our customers, shows our commitment to be a long-term player in the US generic industry and will help us have powerful R&D footprint in the US,” Pranav Amin, MD, Alembic said.