Alkem Labs to acquire API assets from AbbVie

Alkem Laboratories Ltd, a multinational pharmaceutical company, is set to acquire assets related to Active Pharmaceutical Ingredient (API) Dronabinol from United States-based AbbVie Inc. for a cash consideration of $10 million. 

The expected date of completion was set to be on or before 31 st December 2019. 

As per BSE filing, the company said, “This is to intimate you that Alkem Laboratories Limited (the “Company”) has entered into an asset purchase agreement dated 30th December 2019 with AbbVie Inc., USA (“Agreement”) for acquisition of certain assets as stated in Annexure I of this intimation letter related to the active pharmaceutical ingredient, Dronabinol (“Assets”).”

The proposed acquisition includes Dronabinol assets such as domain names and trademarks related to a drug, Marinol, as well as logos, patents, designs, knowledge, technical and manufacturing instructions, inventory, manufacturing equipment, and other items.

The company shall own the associated assets and will use these to commercially exploit both Branded and Generic sales in the US.

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