NewsAugust 26, 2017
Scott Edil acquires Baddi Unit of Alembic Pharma
The group’s first inorganic move towards exports expansion
- Acquired facility will be used for the growing export business
- New facility to bolster company’sforay into better value formulations
Chandigarh, India, August 26, 2017: Scott Edil, a professionally managed pharmaceutical group based in Northern India today announced that its flagship company Scott Edil Pharmacia Limited (Scott Edil) has completed its ongoing transaction with Alembic Pharmaceutical Limited(Alembic) to acquire Alembic’s liquid and oral solid dosage facility at Baddi.
Spread across 20,000sqm with a built-up area of 160,000sqf, the acquired facility has three manufacturing sections - Liquid syrups, tablets and capsules. This facility is equipped with state of the art machinery and well-built scalable infrastructure complying with the global standards of quality, health, environment and safety. The facility was earlier accredited with WHO GMP, PIC/s and several international approvals. For Scott Edil, this plant is advantageously located in the proximity of its other existing units, hence, expected to contribute in the business synergies.
Commenting on the development, Mr. Sanjeev Agarwal, Managing Director, Scott Edilsaid“We are happy to announce successful closure of our transaction with Alembic Pharmaceutical. While the plant adds more capacity to our evolving and growing business, it also fast-tracks our foray into high value regulated markets alongside adding new products to our offerings.” He added “As we continue to develop our exports and consistently improve our financial and operating performance, we believe this transaction is a step forward towards achieving the long-term goals that we have set for the Company. We remain committed towards the health and wellness of the broader population world over.”
Scott Edil purchased this unit on a slump sale basis from Alembic for an undisclosed amount.