Alembic Pharmaceuticals Expands Internationally with New Subsidiary in the Philippines
Alembic Pharma gains after incorporating subsidiary in Philippines
Business Standard
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Alembic Pharmaceuticals saw a 1.09% increase in share price to ₹772.55 following the establishment of its subsidiary, Alembic Lifesciences Philippines Inc. This new entity aims to enhance the company's international footprint by promoting and distributing its pharmaceutical products in the region.
- 01Alembic Pharmaceuticals shares rose 1.09% to ₹772.55.
- 02The new subsidiary, Alembic Lifesciences Philippines Inc., focuses on business opportunities in the Philippines.
- 03Alembic holds a 99.99% stake in the new subsidiary.
- 04The subsidiary has an authorized share capital of 12 million Philippine pesos.
- 05Despite a 10.8% increase in net sales, Alembic's consolidated net profit fell by 3.9%.
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Alembic Pharmaceuticals, a major player in the pharmaceutical industry, experienced a 1.09% rise in its share price, reaching ₹772.55, after announcing the incorporation of Alembic Lifesciences Philippines Inc. This new subsidiary, in which Alembic holds a 99.99% stake, aims to explore business opportunities and enhance the distribution of its products in the Philippines. The subsidiary has an authorized share capital of 12 million Philippine pesos, divided into 1.2 million shares. Despite the positive news, Alembic's consolidated net profit saw a decline of 3.9%, amounting to ₹132.97 crore, even as net sales increased by 10.8% to ₹1,876.31 crore in Q3 FY26 compared to the same quarter last year.
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The establishment of the subsidiary could lead to increased job opportunities and greater availability of pharmaceutical products in the Philippines.
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