Alembic Pharma fully acquires Aleor Dermaceuticals from JV partner

Picks up remaining 40% stake from JV partner Orbicular Pharmaceutical

Vadodara-based Alembic Pharmaceuticals Ltd has fully acquired Aleor Dermaceuticals Limited for an undisclosed amount, by picking up the remaining 40 per cent stake from its joint venture (JV) partner Orbicular Pharmaceuticals Technologies Private Limited.

Alembic Pharma, which held 60 per cent stake in Aleor, will now see its skin-related manufacturing and marketing footprint being strengthened with the acquisition even as it complements the former's business across US, and rest of the world. Subject to approval from the National Company Law Tribunal (NCLT) and other regulatory bodies, the Aleor acquisition was approved by Alembic's board of directors.

With dermatology being a high growth potential segment, Aleor's product offerings across cream, gel, ointment, shampoo, lotion, solutions, sprays, foams, microsponge and nanoparticulate platform-based products are also set to bring in operational and cost efficiencies.

Under Aleor, Alembic not only has a USFDA approved facility, but also 15 products under development along with 30 abbreviated new drug applications (ANDAs).

According to Alembic's managing director Pranav Amin, the acquisition will further bolster the company's global reach with cutting-edge research and development in the dermatology space. "It will also enhance our integrated dermatology platform with a comprehensive collection of scientifically-proven products for daily skincare regimens and peri-procedural use," said Amin.

The combined entity will have a bigger portfolio of products and direct access to markets, which will strengthen overall capabilities to serve more efficiently across different therapies, both overseas as well as domestic, the company stated. In addition, the merger will also enable the pooling of abundant resources and impetus to the growth at a consolidated level.

The acquisition comes in the wake of Alembic Pharma's strategic planning and growth trajectory to capture higher market share in various segments of its pharmaceutical business.

Meanwhile, according to the IQVIA prognosis report, the dermatology market is forecasted to grow in double digits and increase its market share within the pharma market.