Alkem Labs to acquire assets related to Dronabinol for over USD 10 mn from AbbVie Inc

New Delhi: Drug firm Alkem Laboratories on Tuesday said it has entered an asset purchase agreement with AbbVie Inc, USA, for acquisition of certain assets related to active pharmaceutical ingredient, Dronabinol, for over USD 10 million approximately Rs 71 crore).

The assets related to Dronabinol include domain names and trademarks pertaining to 'Marinol', New Drug Application (NDA) registration with US Food and Drug Administration (USFDA) for Marinol, logos, patents designs, know how, technical and manufacturing instructions, inventory, manufacturing equipment and such items, Alkem Laboratories said in a filing to BSE.

The cost of acquisition is cash consideration of USD 10 million plus suitable working capital adjustments on closing, it added.

The objects of the acquisition is, "The company shall own the NDA and associated assets and will use these to commercially exploit both branded and generic sales in the US," Alkem Laboratories said.

Shares of Alkem Laboratories were trading at Rs 2,025.45 per scrip on BSE, up 1.81 per cent from their previous close.