New Delhi -°C
Today in New Delhi, India

Sep 15, 2019-Sunday
-°C

Humidity
-

Wind
-

Select city

Metro cities - Delhi, Mumbai, Chennai, Kolkata

Other cities - Noida, Gurgaon, Bengaluru, Hyderabad, Bhopal , Chandigarh , Dehradun, Indore, Jaipur, Lucknow, Patna, Ranchi

Sunday, Sep 15, 2019

Orchid to buy US-based Karalex

Chennai-based Orchid Chemicals and Pharmaceuticals is set to acquire US-based generic marketing and sales services company Karalex Pharma in a bid to get a direct access to the US consumers.

business Updated: Jun 10, 2010 21:34 IST
HT Correspondent
HT Correspondent
None
Hindustantimes
         

Chennai-based Orchid Chemicals and Pharmaceuticals is set to acquire US-based generic marketing and sales services company Karalex Pharma in a bid to get a direct access to the US consumers.

“The acquisition is expected to add around Rs 100 crore to the total sale in the financial year 2010-11 and a total of Rs 500 crore in next three years,” said K. Raghavendra Rao, managing director, OrchidChemicals & Pharmaceuticals.

The company has declined to reveal the size of the acquisition.

Currently, Orchid is selling its products in US on profit sharing basis with Karalax, which has annual sales of $20 million (Rs 100 crore) and has presence in all the major markets of US.

First Published: Jun 10, 2010 21:34 IST