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.

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.

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“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.