Industry Trend Analysis - Orit Acquisition Positions Alembic For US Sales Growth - 20 NOV 2017
BMI View: Alembic Pharmaceuticals ' acquisition of Orit Laboratories highlights that consolidation within the mid-table generic players remains a viable strategy. The move will serve to boost Alembic ' s position in the US generic market; crucially, it will deliver the firm a physical presence and production facility within the US, a move that will be beneficial in working with the FDA. This acquisition complements recent investments that have increased the importance of exports for Alembic.
Alembic Pharmaceuticals has acquired Orit Laboratories, based in West Caldwell, NJ; financial details of the transaction have not been disclosed. The acquisition increases Alembic's US product portfolio with seven approved ANDAs and four ANDAs pending approval. Alembic added that it will increase its breadth and capabilities in the US, adding an R&D team with skills in soft-gelatine oral solids and oral liquids.
Orit Laboratories was founded in August 2005. The firm's research and development focuses on prescription generic pharmaceuticals, including tablets, capsules, soft-gelatine capsules, oral liquids and suspensions. In 2016, the company reported that it had four ANDAs approved under its own ownership. The firm also reported that another six ANDAs were under review by the FDA. In total, Orit had 17 projects in development. Orit's FDA-approved products include 100 and 200mg benzonatate soft gel capsules; 10mg cyclobenzaprine tablets; 1.25mg ergocalciferol soft gel capsules; 250, 500, 750 and 1,000mg levetiracetam tablets (filed for a customer); and 100mg/mL levetiracetam oral solution.
|Orit Acquisition Will Help Grow Alembic's ANDA Tally|
|Alembic and Orit's ANDA Approvals, January 2009-October 2017|
|Source: US FDA, BMI|