The company was incorporated as a private limited company ‘Alkem Laboratories Private Limited’ on August 8, 1973 at Patna under the Companies Act, 1956 and subsequently became a deemed public limited company under section 43A(2) of Companies Act, 1956 on October 26, 1988. Pursuant to the company passing a resolution under section 21 of Companies Act, 1956 and upon issuance of a fresh certificate of incorporation consequent on change of name dated August 21, 2001, the name of the company was changed to ‘Alkem Laboratories Limited’ with effect from October 26, 1988.
The company produces branded generics, generic drugs, active pharmaceutical ingredients (APIs) and neutraceuticals, which it markets in India and 55 countries internationally, primarily the United States. The company has seen strong growth under the vision, leadership and guidance of its founders, Samprada Singh and Basudeo N. Singh, who have both been associated with the pharmaceutical business for over four decades.
The company’s domestic operations are further divided according to the various therapeutic areas in which it operates. The company has been among the top ten pharmaceutical companies in India in terms of domestic sales for the past 12 years. According to IMS Health, the company was the third-fastest growing company in terms of sales in this period among the ten largest pharmaceutical companies in the Indian domestic formulations market.
Having established itself in the Indian pharmaceuticals market, the company has expanded internationally through both organic growth and certain strategic acquisitions in the United States, which is its key focus market. Its products are sold in 56 countries, either directly through its Subsidiaries or indirectly, through supply, distribution and other arrangements with various global companies and local distributors.
In July 2010, the company acquired ThePharmanetwork LLC in the United States, the holding company of Ascend, which provided it with the commercial platform through which it was able to market and sell its portfolio of products in the United States. Ascend was established in 2003 and had its own portfolio of generic products in the market prior to its acquisition. Ascend has relationships with major chains, wholesalers, managed care companies, distributors, food and grocery stores and pharmaceutical retailers in the United States. Further, in December 2012, the company acquired manufacturing assets from NORAC, Inc. in the United States, focused primarily on manufacturing specialty APIs and providing contract research and manufacturing services. Recently, in June 2015, the company acquired a formulation manufacturing facility from Long Pharmaceuticals LLC in the United States that has semi-solids, liquid and nasal formulation manufacturing capabilities.
In addition to the United States, Australia is also an important focus market for the company. In June 2009, the company has acquired a majority stake in an Australia company, Pharmacor (Pharmacor) to enable it to enter the Australian market. Pharmacor targets individual pharmacies, pharmacy groups, pharmacy co-ops, aged care and hospitals to offer prescription drugs and over-the-counter generic medicines. The company has also built its presence in other developed and emerging markets in Europe, South-East Asia, Latin America, Africa and the CIS through its Subsidiaries in these countries as well as through building relationships with international companies and local distributors. The company has strong research and development capabilities which enhance its portfolio of products. The company has four research and development facilities, two in India and two in the United States.
Business area of the company
The company is a leading Indian pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and neutraceutical products. For fiscal year 2015, the company was the fifth largest pharmaceutical company in India in terms of domestic sales. Further, it had the largest number of brands (five) in the top 50 brands of the Indian pharmaceutical industry for fiscal year 2015 in terms of domestic sales (along with another leading pharmaceutical company).
Awards and achievements