Mumbai, April 23 -- The newly formed entity, Alembic Lifesciences Philippines Inc., will focus on exploring business opportunities in the region and promoting, selling, and distributing the company's pharmaceutical products.

The company holds a 99.99% stake in the subsidiary. Alembic Lifesciences Philippines Inc. has an authorised share capital of 12 million Philippine pesos, divided into 1.2 million shares of 10 Philippine pesos each.

Alembic Pharmaceuticals, a vertically integrated research and development company, is engaged in the manufacture and marketing of generic pharmaceutical products across global markets. The company's consolidated net profit fell 3.9% to Rs 132.97 crore despite a 10.8% jump in net sales to Rs 1,876.31 crore...