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The generic pharmaceuticals firm has sold its Baddi, India formulations manufacturing facility following a recent fire at its joint-venture plant in Algeria.
Alembic Pharmaceuticals (Guajarat, India), a generic pharmaceuticals company, has sold its formulations manufacturing facility in Baddi, District Solan, India, to Scott Edil Pharmacia (Chandigarh, India), a manufacturer of pharmaceutical products, according to a company filing with the Bombay Stock Exchange (BSE) on August 23, 2017.
Alembic noted in its filing that the turnover and net worth of the Baddi facility over the past financial year in relation to the turnover and net worth of the company is insignificant. The facility was sold on a slump sales basis.
Alembic continues to meet domestic formulation demand from its Sikkim, India, unit and international formulation demand from its Panelav, India, unit, the company said in its BSE filing.
The sale follows an earlier fire incident at the company’s Algerian joint venture plant, Alembi Mami SPA, at Constantine, Algeria. The company reported the fire incident in a BSE filing on Aug. 18, 2017. The company stated in the filing that it does not expect a major adverse impact from the incident, but it does expect a disruption in operations until the plant is put back on stream.
Alembic has six formulation and three API manufacturing facilities. Of the six formulation facilities, five are located near Vadodara in Gujarat-three at Panelav and two at Karakhadi. The sixth facility is 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.
The two plants in Karakhadi will manufacture general injectable and ophthalmic products. The manufacturing facility at Sikkim produces oral solid dosage and liquid oral dosage forms. The Panelav and Karakhadi facilities serve international markets, and the Sikkim plant serves the domestic market.
The company has also initiated expansion of manufacturing facilities into newer areas it was not yet present and is in the process of initiating expansion of oral solid manufacturing at a Greenfield site at Halol, near Vadodara.
Alembic’s three API manufacturing plants include two at Panelav and one at Karakhadi. All three facilities are cGMP compliant and serve the API requirements of the regulated markets.