Alembic acquires API manufacturing unit

Vadodara, January 3, 2008: Alembic Limited, the pharmaceutical major, today announced the acquisition of an Active Pharmaceutical Ingredients (API) manufacturing facility of Nirayu Private Limited for Rs 17.50 crore. It is a USFDA approvable facility. The acquired unit is located near Vadodara and will be used by Alembic 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. 1/1/2008).

CRAMS is the growth opportunity that the company is actively pursuing. Alembic is looking at increasing its revenues from the international markets.

About Alembic Limited

Established in 1907, the over Rs. 700 crore Vadodara (Gujarat, India) based Alembic Ltd. is a leading pharmaceutical company in India. The company is vertically integrated with the ability to develop, manufacture and market pharmaceutical products, pharmaceutical substances and Intermediates. Alembic is the market leader in Macrolides segment of anti-infective drugs in India. 'Zero' (sugar free), Glycodin (cough syrup) and Althrocin (erythromycin estolate) are some of the leading brands for the company.

Alembic's manufacturing facilities are located in Vadodara and Panelav in Gujarat, and Baddi in Himachal Pradesh. The plant at Vadodara has the largest fermentation capacity in India. The Panelav facility houses both API (USFDA approved) and formulation manufacturing (to undertake US FDA inspection shortly) plants. The plant at Baddi, Himachal Pradesh manufactures formulations for the domestic and export market. The company has a state of the art Research Centre- BioArc- at Vadodara, to build its strength in chemistry and capitalize for the CRAMS business.