Alkem Labs To Buy Assets Related To Dronabinol For Over $10 Million
A bottle of generic tablets produced by an Indian pharma firm. (Photographer: Dhiraj Singh/Bloomberg)

Alkem Labs To Buy Assets Related To Dronabinol For Over $10 Million

Bookmark

Drug firm Alkem Laboratories Ltd. on Tuesday said it has entered an asset purchase agreement with AbbVie Inc., U.S, for the acquisition of certain assets related to the active pharmaceutical ingredient, Dronabinol, for over $10 million (approximately Rs 71 crore).

The assets related to Dronabinol include domain names and trademarks pertaining to 'Marinol', New Drug Application registration with U.S. Food and Drug Administration for Marinol, logos, patents designs, know-how, technical and manufacturing instructions, inventory, manufacturing equipment, and such items, Alkem Laboratories said in a filing to BSE.

The cost of acquisition is cash consideration of $10 million-plus suitable working capital adjustments on closing, it added. The objects of the acquisition are, "The company shall own the NDA and associated assets and will use these to commercially exploit both branded and generic sales in the U.S.," Alkem Laboratories said.

Also read: How To Sign Up For BloombergQuint Story Notifications

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.