Alembic Pharmaceuticals has entered into Share Purchase Agreement with Orbicular Pharmaceutical Technologies (Orbicular), joint venture partner in Aleor Dermaceuticals (Aleor) to acquire the 40% stake held by them in Aleor.
Pursuant to said acquisition, Aleor becomes a wholly owned subsidiary of the Company.
Further, the Board of Directors of the Company at its adjourned meeting held on 29 March 2022, on recommendation of the Audit Committee has also considered and approved the Scheme of Arrangement in the nature of Amalgamation of Aleor Dermaceuticals ('Transferor Company') with Alembic Pharmaceuticals ('Transferee Company') and their respective shareholders under Sections 230 to 232 of the Companies Act, 2013 and rules framed thereunder ('Scheme').
The Appointed date for the Scheme would be 1 April 2021.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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