The Chennai-based generic pharma major, Orchid Chemicals & Pharmaceuticals Ltd has entered an agreement to acquire Karalex Pharma, a US-based generic marketing and sales service company, through an all-cash deal for an undisclosed amount. The transaction is expected to close by this month subject to customary closing conditions. Through this acquisition, Orchid has created its presence in the front-end US market and will be able to reach its generic products to the US customers directly.
Headquartered in New Jersey, Karalex Pharma is a leading provider of generic pharmaceuticals focused exclusively on the US healthcare market. Orchid is a leading pharmaceutical company involved in the development, manufacture and marketing of diverse bulk actives, formulations and nutraceuticals.
On Thursday, Orchid's shares ended 4.61% up at Rs151 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.59% up at 16,922 points.
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