Alembic Pharmaceuticals on Tuesday said it has fully acquired Aleor Dermaceuticals from its joint venture partner Orbicular, to strengthen its skin-related manufacturing and marketing footprint.
The company has acquired remaining 40 per cent stake from Orbicular Pharmaceutical Technologies, to have 100 per cent holding in Aleor, which has presence across cream, gel, ointment, shampoo, lotion, solutions, sprays, foams, microsponge and nanoparticulate platform-based product segments.
The company, however, did not share financial details.
"We think it (derma) is a promising area and we wanted to take 100 per cent of the company. So we bought out the remaining 40 per cent so that we have more control and can explore opportunities in the future,” Alembic Pharmaceuticals Managing Director Pranav Amin told PTI.