M&A
Alembic Pharma buys out JV partner Orbicular from Aleor Dermaceuticals
Publicly listed Alembic Pharmaceuticals, which earlier held a 60% stake in fellow Vadodara-based Aleor Dermaceuticals, has now acquired the remaining 40% from its JV partner Orbicular Pharmaceutical Technologies Pvt Ltd. Aleor has product offerings across cream, gel, ointment, shampoo, lotion, solutions, sprays, foams, microsponge and nanoparticulate platform-based products. Its formulation manufacturing facility located at Karakhadi, Gujarat, is a USFDA inspected facility. For FY21, the company had reported a turnover of INR 15.5 crore.
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