Alembic Enters Philippines Market with New Subsidiary for Pharma Distribution
New Delhi: Alembic Pharmaceuticals Limited has incorporated a new subsidiary, Alembic Lifesciences Philippines Inc., with a share capital of PHP 12 million, as part of its strategy to expand into the Philippines market and strengthen its presence in international pharmaceutical distribution and sales.
The newly formed entity has a share capital of Philippine Pesos 12,000,000 divided into 1,200,000 shares of PHP 10 each and has not yet commenced business operations, with no turnover reported so far.
Alembic Lifesciences Philippines Inc. will operate in the pharmaceutical sector and is intended to promote, sell, and distribute the company’s pharmaceutical products in the Philippines, enabling the company to explore new growth opportunities in the region.
The company clarified that the incorporation does not fall under related party transactions and no promoter or group entity has any separate interest, as it is a subsidiary of Alembic Pharmaceuticals Limited.
No governmental or regulatory approvals are required for the incorporation, and the timeline for completion is not applicable since the entity has already been established.
The investment has been made through subscription to the share capital, with Alembic Pharmaceuticals holding 99.99% ownership and control in the newly incorporated subsidiary. As the company is newly formed, it has no prior operational history or financial performance.
