Alembic Pharmaceuticals Ltd (APL) has entered into a joint venture with Orbicular Pharmaceutical Technologies and Dr M S Mohan for developing, manufacturing and commercializing dermatology products for global markets.

The company said in a BSE filing that “APL and Orbicular will own 60 percent and 40 percent of the equity capital of Aleor when the transaction is completed.”

It further said that “The joint venture agreement has standard terms including transfer of employees, financing and borrowing, management functioning, restriction on transfer of shares, non-compete, non-solicitation and termination events and consequences.”

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