Alembic Pharmaceuticals gains as its arm set to acquire Utility Therapeutics
Alembic Pharmaceuticals is currently trading at Rs 1000.60, up by 10.95 points or 1.11% from its previous closing of Rs 989.65 on the BSE.
The scrip opened at Rs 999.05 and has touched a high and low of Rs 1010.00 and Rs 980.00 respectively. So far 20842 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 2 has touched a 52-week high of Rs 1296.15 on 09-Oct-2024 and a 52-week low of Rs 725.60 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs 1107.80 and Rs 963.75 respectively. The current market cap of the company is Rs 19539.36 crore.
The promoters holding in the company stood at 69.67%, while Institutions and Non-Institutions held 20.37% and 9.96% respectively.
Alembic Pharmaceuticals’ wholly owned subsidiary -- Alembic Pharmaceuticals Inc is all set to acquire Utility Therapeutics (Utility). The objective behind the acquisition is to market the USFDA approved product and underdevelopment product owned by the Utility in USA. The transaction is expected to complete within 30 days. The cost of acquisition is around $12 million in staggered manner over period of time, depending on milestones achieved.
Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, has been at the forefront of Healthcare since 1907.
