Orchid Chemicals to take over US-based Karalex Pharma
10 Jun 2010
Orchid Chemicals, the Chennai-based generic pharma major is all set to take over US based Karalex Pharma. The acquisition of the New Jersey headquartered generic marketing and sales services company is likely to be completed this month.
According to analysts the acquisition will help Orchid add $20 million in revenue from Karalex.
The transaction will close by this month subject to customary closing conditions.
With the acquisition, Orchid has established its presence in the front-end US market and will now be able to deliver its generic products directly to the US customers.
K Raghavendra Rao, managing director, Orchid Chemicals & Pharmaceuticals said the company was happy to have established its presence in the generic sales and marketing area with the acquisition. The acquisition would provide a strong commercial US-based sales capability to Orchid, paving the way for synergistic returns from is upcoming and long-term strategic generic pharmaceuticals pipeline comprising key first-to-file and Paragraph-IV products.
