Vadodara-based Alembic Pharmaceuticals has acquired the balance 40 per cent stake in Aleor Dermaceuticals from its JV Partner Orbicular Pharmaceutical Technologies (Orbicular) to strengthen its skin-related manufacturing and marketing footprint.

The Board of Directors of Aleor has been reconstituted with Orbicular nominees resigning from the Board. The amalgamation will integrate business operations and provide impetus to the existing portfolio of Alembic. The acquisition augers well with the strategic planning and growth trajectory set by the company to capture a higher market share in various segments of its pharmaceutical business.

The combined entity will have a bigger portfolio of products and direct access to markets, which will strengthen overall capabilities to serve more efficiently across different therapies, both overseas as well as domestic. Further, the growth of business envisages adequate capital and resources commitments and hence, the merger shall enable the pooling of abundant resources and impetus to the growth at a consolidated level.