Alkem acquires AbbVie Inc.

Alkem Laboratories Limited entered into an asset purchase agreement with AbbVie Inc., USA, for the acquisition of certain assets related to the active pharmaceutical ingredient (API), Dronabinol.

Assets required via the acquisition are in relation to the API Dronabinol, which includes domain names and trademarks related to ‘MARINOL’, new drug application registration with the USFDA for Marinol, logos, patents designs, know how, technical and manufacturing instructions, inventory manufacturing equipment, and other items. Post the acquisition, Alkem Laboratories will own the NDA and associated assets and will use these to commercially exploit both, branded and generic, sales in the US. Through a cash consideration, the cost of the acquisition is around US$100 million plus suitable working capital adjustments.

Based in Mumbai, Maharashtra, Alkem Laboratories is a multinational pharmaceutical company, involved in the manufacturing and selling of pharmaceutical generics, formulations, and neutraceutricals in India.

On Tuesday, the stock of the company was closed at Rs 2000.5, up by 0.55 per cent or Rs 11 per share. The 52-week high is Rs 2,149 and 52-week low is Rs 1,660.35.