"The Mumbai-based company has entered into an alliance with Haw Par India, a wholly-owned subsidiary of Singapore's Haw Par Healthcare, to exclusively market and distribute Tiger Balm range of products in the country," Alkem Labs said in a regulatory filing.
Drug firm Alkem Laboratories today reported a 5.96 per cent rise in its consolidated net profit to Rs 282.83 crore for the quarter to September, mainly on back of robust sales.
The company had posted a consolidated net profit of Rs 203.87 crore in the same quarter last fiscal, Alkem Laboratories said in a BSE filing.
The company will work towards increasing volumes in the gastro-intestinal, anti-diabetic and cardio segments, among others, to overcome margin pressures due to industry headwinds, says Prabhat Agrawal, CEO of Alkem Laboratories.
Alkem is looking to raise around Rs 1300 crore through its IPO by offering 1.28 crore shares in a price band of Rs 1020-1050. The entire issue is an offer for sale by existing shareholders.