Lupin on Friday said it has entered into an agreement to acquire five brands from Italian firm Menarini for Rs 101 crore.
The Mumbai-based pharmaceutical firm disclosed that the brands are spread across the strategic therapy areas of gastroenterology, urology and anti-infectives. They include Piclin, Menoctyl, Sucramal O, Pyridium, and Distaclor.
Lupin has been exclusively marketing these brands in the Indian market since July 2021 under a distribution and promotion agreement with A. Menarini India Pvt Ltd, the Italian firm’s domestic arm.
According to Lupin, the strategic acquisition for the domestic market marks a significant step forward for the company as it continues to expand its presence in India.
It is expected that the brands will help the firm further enhance its diverse portfolio and solidify its position in the pharmaceutical sector.
“This acquisition aligns well with our strategic goal to broaden our presence in the Indian market. By offering a comprehensive range of products, our aim is to deliver even greater value to our stakeholders and the communities we serve,” said Nilesh Gupta, managing director, Lupin.
Shares of the company ended with losses of 2.83 per cent, or Rs 31.90, at Rs 1,097.05 in the BSE on Friday.
“This acquisition strengthens our presence in India and bolsters our therapy pipeline. We are committed to empowering healthcare professionals in improving the lives of patients significantly,” Rajeev Sibal, president, India Region Formulations, Lupin, said.
