Lupin has received approval from board of directors to enter into a business transfer agreement with Lupin Manufacturing Solutions (LMSL), wholly owned subsidiary of the Company, to carve out two Active Pharmaceutical Ingredients (‘API’) manufacturing sites at Dabhasa and Visakhapatnam and select R&D operations, including fermentation, at Lupin Research Park, Pune. The consideration expected to be received is Rs 750.00 – Rs 850.00 crore, subject to movement in working capital and other items in the intervening period up to completion. The Board of Directors at its meeting held on September 11, 2023 has approved the same.
Lupin is an innovation led transnational pharmaceutical company producing, developing and marketing a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.
