Alembic acquires API unit

Alembic Ltd has informed that the Company has acquired API manufacturing unit of Nirayu Pvt Ltd. situated at Panelav, P.O. Tajpura, Taluka Halol, Dist. Panchmahals, Gujarat.

In this regard the Company has issued the following Press Release:

"Alembic Ltd has acquired the API manufacturing facility of Nirayu Pvt Ltd. This unit is located on the outskirts of Vadodara and will be used by the Company to increase its API business and regulatory filings.

This acquisition is on a going concern basis together with the assets (including all rights, privileges, and benefits of use and exploitation of Designs and full power and authority in respect of the Technology, Know-how, Licenses, Franchises, Business & Marketing Information, Current Assets and Continuing Employees etc) and liabilities on the effective date (i.e. January 01, 2008) at a total consideration of Rs 17.50 Crores. It is a USFDA approvable facility."