Mumbai, July 3 -- Utility Therapeutics is involved in the development and approval of two brand pharmaceutical products for the treatment of urinary tract infections (UTI). The first product 'Pivya' is an FDA approved product to treat uncomplicated UTIs in the US market. The second product 'MEC' is in development for the treatment of complicated UTIs in the US market. As a product development company they have minimal turnover in last 3 years.

Alembic Pharma stated that the acquisition has been made to market the US FDA approved product and under-development product owned by the Utility in USA.

The acquisition cost involves a cash component plus profit share out of future profits. The total amount payable is approximately $12 million. T...