Lupin’s subsidiary -- Lupin Atlantis Holdings SA, Switzerland, (LAHSA) has signed an Asset Purchase Agreement with Sanofi, a French multinational pharmaceutical and healthcare company, for acquiring a portfolio of accretive established products in Europe and Canada.
The brands AARANE in Germany and NALCROM in Canada and the Netherlands are being acquired. The turnover of the said brands in these markets for the year ended March 31, 2023 was about $6.494 million (Rs 537 million).
The brands being acquired are in line with the business of the Company. The proposed transaction is of strategic interest by bringing accretive assets in the respiratory field to help structure the Company’s new respiratory franchise in Germany following the launch of LUFORBEC in Germany, the launch of Gx SPIRIVA and the acquisition of XOPENEX and BROVANA in the US.
Cost of acquisition is EUR 10 million (Rs 910 million) plus sales milestones up to EUR 8 million (Rs 728 million), contingent upon future sales. Acquisition is planned to be completed by the first quarter 2024. The acquisition is of product brands and not of any unit or division of Sanofi.
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.
Company Name | CMP |
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Sun Pharma Inds. | 1521.95 |
Dr. Reddys Lab | 6279.95 |
Cipla | 1407.55 |
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Lupin | 1640.30 |
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