Alembic Pharma arm acquires US-based Orit Lab

Deal will establish Alembic as 'long-term' US generic market player

Vadodara-based Alembic Pharmaceuticals Ltd on Wednesday announced that it had acquired US-based generic drug developer Orit Laboratories LLC through its 100 per cent subsidiary Alembic Pharmaceuticals Inc.

As per Alembic's filing on BSE, the acquisition includes the real estate company Okner Realty LLC.

Based out of New Jersey, Orit Laboratories has seven approved and four pending ANDAs, with an 8,600 sq ft wide R&D and pilot manufacturing facility. 

Founded by Dr Satish Patel in 2005, Orit Laboratories is focused on developing and filing oral solid and liquid products, as per Alembic's filing on BSE on Wednesday. Apart from existing ANDAs, Orit also brings