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Alembic Pharmaceuticals to Acquire 45% Stake in Canadian Venture

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Alembic Pharmaceuticals (NSE:APLLTD, BOM:533573) has entered into a shareholders' agreement with Difgen Holdings and Sukhad Juneja to invest in 17989377 Canada Inc., according to a Saturday filing with the Indian bourse.

Upon completion of the transaction, Alembic will hold a 45% stake in the Canadian entity, while Difgen Holdings will own 45%. The remaining 10% will be held by other shareholders.

The investment will support the establishment of a platform to develop, commercialize, distribute, and market pharmaceutical products in Canada, the company said in the filing.

The Canadian company will become an associate of Alembic following completion of the investment, according to the filing.

Shares of the company rose 1% in recent trade.

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