Alembic Ltd has acquired API manufacturing facility of Nirayu Pvt Ltd., located at Panelav, P.O. Tajpura, Taluka Halol, Dist. Panchmahals, Gujarat, at a total consideration of Rs 17.50 crore. It is a US FDA approvable facility.
According to a company press release, this unit is located on the outskirts of Vadodara and will be used by the company to increase its API business and regulatory filings.
This acquisition is on a going concern basis together with the assets (including all rights, privileges, and benefits of use and exploitation of Designs and full power and authority in respect of the technology, know-how, licenses, franchises, business and marketing information, current assets and continuing employees etc) and liabilities on the effective date (i.e. January 01, 2008).