Chennai-based drug company, Orchid Chemicals has said that it is going to buy a US pharmacy company, Karalex Pharma LLC. The agreement between the two companies has already been signed and that the deal is going to be all-cash in nature.

No details, however, about the total money involved in the deal, was given. The formalities are expected to get over by the end of this month. But it is still subject to customary closing conditions.

In a statement about the deal, Orchid said, "Through this acquisition, Orchid has created its presence in the front-end US market and will be able to reach its generic products to the US customers directly.”

The statement also said that the deal is being done so that Orchid is able to make its presence felt in the generic side of the market especially in the area of sales and marketing.

Besides this, the company will also gets its hands on the capabilities to sell in the US market and that is going to help it build synergies in the long-term strategic planning.

Karalex is a generic player and is focused only on the US.