Alembic Pharma buys 49% stake in Algeria’s Adwiya Marni

Alembic Pharmaceuticals 100% subsidiary Alembic Global Holding (AGH) announced the joint venture deal with Adwiya Marni SARL Algeria

pranav-chirayu

Mr Pranav C Amin, president, International Business, Alembic Pharmaceuticals (Photo Courtesy: www.tejasvidyalaya.org)

Alembic Pharmaceuticals 100% subsidiary Alembic Global Holding (AGH) announced the joint venture deal with Adwiya Marni SARL Algeria.

The deal envisages investment by AGH to the extent of 49 percent equity of Adwiya Marni.

Post conclusion of deal the company will be renamed as Alembic Marni SPA.

Adwiya Marni owns a state of art formulation plant with a capacity of 1.2 billion per annum oral solids. The plant has been designed and developed by a leading European Pharmaceutical company in line with the cGMP requirements.

The plant has enough headroom for future expansion. The investment in Adwiya Marni will give AGH a quick entry to the attractive Algerian market.

 

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