Alembic-Orbicular form JV to develop dermatology products for global markets

Vadodara-based Alembic Pharmaceuticals Ltd has entered into a 60:40 joint venture with Hyderabad-based Orbicular Pharmaceutical Technologies Pvt Ltd and MS Mohan, 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. It is privately held pharmaceutical research company that develops and licenses specialty pharmaceutical products in niche dosage domains like complex injectables, dermatology and ophthalmics.

A manufacturing facility will be established in Aleor Dermaceuticals (Aleor) to enable worldwide registrations.

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• Alembic Pharma gains on JV with Orbicular

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.