Lupin has acquired majority stake in Philippines based Multicare Pharmaceuticals Philippines, Inc (MC). MC is a branded generic company commanding premium image with a good position in the Women’s health and Child Care Segment. MCs revenues were about Php 272 million in the year ended December 2008. Philippines market is estimated at US$ 2.5 billion and is dominated by MNCs.
Lupin indicated that with the synergies of the two companies, they are targeting to be a top league company in the near term. While MC will gain access to Lupin’s existing product pipeline and manufacturing expertise, Lupin will gain access to the established brands and supply chains in Philippines. MC’s portfolio of brands is also sourced from European Majors and Lupin has said that it respects the same.crackcrack