Alembic Pharma rises on partnering with SPH Group & Adia for Chinese market

Alembic Pharmaceuticals is currently trading at Rs. 556.35, up by 5.25 points or 0.95% from its previous closing of Rs. 551.10 on the BSE.

The scrip opened at Rs. 566.95 and has touched a high and low of Rs. 568.55 and Rs. 553.75 respectively.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 664.00 on 27-Sep-2018 and a 52 week low of Rs. 412.40 on 24-May-2018.

Last one week high and low of the scrip stood at Rs. 568.55 and Rs. 540.00 respectively. The current market cap of the company is Rs. 10556.89 crore.

The promoters holding in the company stood at 72.97%, while Institutions and Non-Institutions held 14.98% and 12.05% respectively.

Alembic Pharmaceuticals has entered into a Joint Venture Agreement (JVA) with SPH SINE Pharmaceutical Laboratories, China (SPH Sine) & Adia (Shanghai) Pharma, China (Adia) to promote and sell pharmaceutical products for the Chinese market. Initially this JV will commercialize products manufactured by Alembic Pharmaceuticals. Subsequently the JV plans to set up a manufacturing facility in China.

The JV will commercialize products in the Chinese market which has an increasing demand for generic drugs. It will initially launch with a portfolio of oral solids and is expected to widen to other areas like injectable, ophthalmology, dermatology & oncology which are being currently developed and manufactured by Alembic.

SPH Sine, Alembic & Adia shall hold 51%, 44% & 5% equity in the JVA. The JVA has standard terms including management functioning, restriction on transfer of shares, non-compete and termination events and consequences.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, has been at the forefront of Healthcare since 1907.

The post Alembic Pharma rises on partnering with SPH Group & Adia for Chinese market appeared first on Udaipur News | Udaipur Latest News | udaipur local news.

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