Events Details
Alembic Pharmaceutical acquires stake in Adwiya Mami
Thursday, October 30, 2014
Alembic Pharmaceutical is making its foray into the Algerian market acquiring 49% stake in Adwiya Mami SARL Algeria, for an undisclosed amount.
Post the deal, Adwiya Mami will be renamed as Alembic Mami SPA with the company being jointly run by Adwiya Mami, both having equal board participation. The venture will be led by CEO,TagreedAlshunar,apharmaindustryprofessional.Adwiya Mami has a formulation plant designed in line with cGMP requirement having a capacity of 1.2 billion per annum oral solids.
The Algerian pharma market is estimated to be around $3 Bn with 70% generics and 30% innovator.
Alembic’s pharmaceutical business consisting of domestic formulations, international generics, and activepharmaceutical ingredients, was transferred to APL following APL''s demerger from Alembic. Alembic Pharmaceutical manufactures a range of formulations and bulk drugs.
It had reported profits of INR 2.3 Bn on a turnover of INR 18.4 Bn for the last fiscal
Source : http://www.dealcurry.com
