The board of directors of Alembic has also approved, subject to approval from NCLT and other regulatory bodies, the merger of Aleor with Alembic. (Representational image) 
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The board of directors of Alembic has also approved, subject to approval from NCLT and other regulatory bodies, the merger of Aleor with Alembic. (Representational image) Alembic Pharmaceuticals Ltd on Tuesday said it has acquired 100 per cent stake in Aleor Dermaceuticals Ltd from its joint venture (JV) partner Orbicular Pharmaceutical Technologies Pvt Ltd to strengthen its skin-related manufacturing and marketing footprint.
Aleor has product offerings across cream, gel, ointment, shampoo, lotion, solutions, sprays, foams, microsponge and nanoparticulate platform-based products. The board of directors of Aleor has been reconstituted with Orbicular nominees resigning from the board.
The board of directors of Alembic has also approved, subject to approval from NCLT and other regulatory bodies, the merger of Aleor with Alembic, Alembic said in a statement.
The amalgamation will integrate business operations and provide impetus to the existing portfolio of Alembic. The acquisition, Alembic Pharmaceuticals said, augers well with the strategic planning and growth trajectory set by the company to capture higher market share in various segments of its pharmaceutical business.
"The merger will further bolster our global reach with cutting-edge research and development in the derma space and enhance our integrated dermatology platform with a comprehensive collection of scientifically-proven products for daily skincare regimens and peri-procedural use," Alembic MD Pranav Amin said.
According to a prognosis report from IQVIA, a market analysis company, the dermatology market is forecasted to grow in double digits and increase its market share within the pharma market. The acquisition will unlock the full potential of Aleor and drive significant value creation through synergies with Alembic.
"Orbicular would bolster its development capabilities independently in advancing several interesting and exciting opportunities in complex products," Orbicular MD Dr MS Mohan said.
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. Further the growth of business envisages adequate capital and resources commitments and hence, the merger shall enable the pooling of abundant resources and impetus to the growth at a consolidated level.
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