Big Pharma Company Buys West Caldwell’s Orit Labs

WEST CALDWELL, NJ — An India-based, Big Pharma corporation has acquired West Caldwell generic drug developer Orit Laboratories, according to a company statement.

Alembic Pharmaceuticals announced its purchase of Orit Laboratories on Wednesday. Alembic also purchased real estate owned by Okner Realty LLC, the company stated.

Financial details of the deal weren’t disclosed in a news release about the transaction.

According to a statement from Alembic, Orit Laboratories – located at 200 Fairfield Avenue - was established in 2005 and has seven approved ANDAs and four ANDAs awaiting approval. The company has a “state-of-the-art”, 8,600 square foot facility for research and development and pilot manufacturing. Orit develops and fills oral solid and liquid products, and will add “complementary skill sets in soft gelatin-based oral solids and oral liquids.”

As part of the transaction, Orit founder and CEO Satish Patel and his team of eight scientists will join Alembic, the company stated.

With the transaction, Alembic now has a total of 61 final and eight tentative ANDA approvals from the U.S. FDA, the company stated.

“This acquisition expands our basket of product offerings to our customers, shows our commitment to be a long term player in the U.S. generic industry, and will help us have a powerful R&D footprint in the U.S.,” Alembic CFO R. K. Baheti said.

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