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Alembic to invest $3.6 m in Xechem
MUMBAI,
APRIL 6.
Alembic will invest $3.6 million in the U.S.-based research company, Xechem International, as part of an agreement with the latter to work together for manufacture and distribution of a product for sickle cell disease (SCD), a blood disorder. Under the terms of the memorandum of understanding, Alembic would invest over $3.6 million by way of equity and debt in Xechem, Alembic informed the Bombay Stock Exchange today. The MoU also provides for Alembic to hold 15 per cent equity stake in Xechem's subsidiary.
— PTI
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