Alembic Pharma Acquires Utility Therapeutics For $12 Million
The acquisition is being done by Alembic Pharmaceuticals, Inc, the company's US subsidiary, Alembic said in a statement.
Alembic Pharmaceuticals on Thursday said its US arm has acquired Utility Therapeutics Ltd in a $12 million (over Rs 100 crore) deal to strengthen its presence in the American market.
The acquisition is being done by Alembic Pharmaceuticals, Inc, the company's US subsidiary, Alembic said in a statement.
Subsequently, Alembic will begin commercialisation of Utility's recently FDA-approved product Pivya (pivmethecillam) for the treatment of uncomplicated urinary tract infections, it said. Pivya was approved by the FDA in April 2024.
"This acquisition gives us a strategic entry into the specialty and branded prescription products. This will give us exposure to the branded pharmaceutical market with a near term commercial launch," Alembic Pharmaceuticals MD Pranav Amin said.
Utility Therapeutics President and CEO Tom Hadley said, "Alembic Pharmaceuticals understands the clinical and commercial value of Pivya and will bring this proven treatment to female patients in need across the US."
The acquisition of Utility broadens Alembic Inc's footprint beyond generic pharmaceuticals and will allow Alembic to build out its capabilities in the large US branded pharmaceutical market, Alembic said adding it plans to make Pivya available in the US in Q42025.
