Alembic Pharma acquires balance 40% stake in Aleor Dermaceuticals; stock slips ~1%

29 Mar 2022 , 01:44 PM

Alembic Pharmaceuticals Limited has completed the acquisition of the balance 40% stake in Aleor Dermaceuticals Limited from its JV Partner Orbicular Pharmaceutical Technologies Private Limited in order to strengthen its skin-related manufacturing and marketing footprint.

Aleor’s product portfolio includes Cream, Gel, Ointment, Shampoo, Lotion, Solutions, Sprays, Foams, Mircosponge, and Nanoparticulate platform-based products.

Aleor’s board includes Orbicular nominees resigning from the Board. Alembic’s board has also approved the merger of Aleor with itself, subject to the approval from NCLT.

The company believes that this amalgamation will improve business operations and will encourage the existing portfolio of Alembic. This acquisition aligns with the strategic growth trajectory set by the company to gain a higher market share in various segments of its pharmaceutical business.

The combined entity will have an expanded portfolio and will have direct access to the markets. This will strengthen the overall capabilities to serve more efficiently across all therapies.

Commenting on the acquisition, Pranav Amin, Managing Director of Alembic said, “We are delighted to acquire 100% stake in Alero and thereafter, post-merger, making it a unit of Alembic. This will strengthen our global reach with cutting-edge research and development in the derma space and enhance our integrated dermatology platform with a comprehensive collection of scientifically-proven products for daily skincare regimens and peri-procedural use.”

Alembic Pharmaceuticals is currently trading at Rs755 down by Rs4.1 or 0.54% from its previous closing of Rs759.10 on the BSE. Its scrip has touched intraday high and low of Rs770 and Rs753 respectively.