Chennai, June 10 (IANS) City-based drug maker Orchid Chemicals and Pharmaceuticals announced Thursday it will acquire a US-based generic drug marketing company, Karalex Pharma, this month.
According to Orchid Chemicals, the all cash transaction is expected to be completed by this month. Karalex Pharma is headquartered in New Jersey.
With this acquisition, Orchid Chemicals will be able to reach its
generic drugs to the US market.
‘This acquisition will provide a strong commercial US-based sales capability to Orchid, paving the way for synergistic
returns from our upcoming and long-term strategic generic pharmaceuticals pipeline,’ Managing Director K. Raghavendra Rao said in a statement.