Alembic Pharma Completes Orit Labs Acquisition | CORPORATE ETHOS

Alembic Pharma Completes Orit Labs Acquisition

By: | November 1, 2017
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Nov 1: Pharma major Alembic Pharmaceuticals, through its wholly owned subsidiary Alembic Pharmaceuticals Inc, has completed the acquisition of West Caldwell, New Jersey-based generic drug developer Orit Laboratories LLC along with the real estate owned by Okner Realty LLC.

Post-acquisition, Alembic now has a total of 69 abbreviated new drug application (ANDA) approvals (61 final and 8 tentative) from the United States Food & Drug Administration (USFDA).

According to Alembic managing director Pranav Amin, “the acquisition expands our basket of product offerings to our customers, shows our commitment to be a long-term player in the US generic industry, and will help us have a powerful R&D footprint in the US.”

“The acquisition increases Alembic’s US product portfolio with seven approved and four pending Abbreviated New Drug Applications,” the Gujarat-based drug major said in a statement.

Established in 2005, Orit focuses on developing and filing oral solid and liquid products. With an 8,600 sq ft R&D and pilot manufacturing facility, Orit has seven approved ANDAs and four ANDAs pending approval.

According to the company, the acquisition would increase Alembic’s capabilities in the US with a competent R&D team bringing complementary skill sets in soft gelatin based oral solids and oral liquids.