Alembic Sells Formulation Manufacturing PlantBy
Alembic Pharmaceuticals, a Gujarat, India-based generics pharmaceutical company, has sold its formulation manufacturing plant in Baddi, India to Scott Edil Pharmacia, a Chandigarh, India-based pharmaceutical product manufacturer.
The company sold on a slump-sale basis, according to a filing with the Bombay Stock Exchange (BSE). The turnover and net worth of the Baddi manufacturing facility for the last financial year in respect to the turnover and net worth of the company is insignificant, noted Alembic in its BSE filing.
The company says it continues to meet its domestic formulation demand from its facility in Sikkim, India and international formulation demand from its facility in Panelav, India, according to the BSE filing.
In a separate BSE development, Alembic reported in August 2017 a fire at a plant of Alembic Mami SPA, Alembic Pharmaceuticals’ joint venture in Constantine, Algeria. No casualties or injury to any persons were reported, according to the company. The cause of accident and the extent of damage is being investigated and assessed. The company does not expect a major adverse impact, but it does expect a disruption in operations until the plant is put back on stream.
Alembic has six formulation manufacturing and three active pharmaceutical ingredient (API) manufacturing facilities. Of the six formulation facilities, five are located near Vadodara in Gujarat, India (three at Panelav and two at Karakhadi). One facility is located in Sikkim. Alembic currently manufactures general oral solids in Panelav and is in the process of putting up oncology oral solids and oncology injectable facilities at the same location. Alembic also has three manufacturing plants for APIs (two in Panelav and one at Karakhadi).
Source: Alembic Pharmaceuticals (Sale of Plant) and Alembic Pharmaceuticals (Fire incident)