Shares of Alembic rose 9.87 per cent to Rs 104.60 on the Bombay Stock Exchange (BSE) today following the company's announcement of a restructuring exercise last week.
One of the oldest pharmaceutical companies in India, Alembic has announced that it will create a new division for cardiovascular and diabetic drugs. It also plans to transfer some old brands into a franchisee company for marketing. Around 79,810 shares were traded on the BSE.
The new business model will also include growth through the brand acquisition route. The company will be mainly looking at brand acquisitions in areas such as CVS and anti-infective. The new business plans will also include sprucing up its over-the-counter (OTC) business through acquisitions and in-house development.
The company is currently in the process of finalising plans for a foray into the biotechnology sector as part of its new growth strategy. The company is deciding on which areas of biotechnology it will possibly get into, dealers said.
In the last seven sessions, the scrip of the pharmaceuticals company rose 23 per cent to Rs 95.20 on 22 February 2002 from Rs 77.35 on 13 February 2002. In the same period, volumes reached a high of 17,192 shares on 21 February 2002 and a low of 1,492 shares on 20 February 2002.
The company is not only planning on acquisition of some brands in the OTC segment but also strengthening its nutraceutical division by entering into some strategic tie-ups for new product launches.
It has just finalised a tie-up with Cognis Health and Nutrition of the USA. The tie-up is for sourcing Soy Isoflavons, the raw material used in the manufacture of a new product in this segment - Isovon - which is used for treatment of pari-menopausal and menopausal symptoms.
