Curated By: Business Desk
Last Updated: September 22, 2023, 15:43 IST
Lupin has signed an agreement with A. Menarini India and A. Menarini Asia-Pacific Holdings for acquiring five legacy brands along with the associated trademark rights.
The pharma major signed an agreement for the acquisition of five legacy brands from A. Menarini India Private Limited and A. Menarini AsiaPacific Holdings Pte. Ltd, a wholly-owned subsidiary of Italy’s leading pharmaceutical company Menarini Group.
The brands belong to strategic therapy areas of Gastroenterology, Anti-infectives and Urology, the company said in a filing to the stock exchanges.
Along with the five legacy brands, Lupin will also acquire the associated trademark rights. These brands constitute Piclin (Picosulfate Sodium), Sucramal O (Sucralfate plus Oxetacaine), Pyridium (Phenazopyridine), Menoctyl (Otilonium Bromide), and Distaclor (Cefaclor).
The said strategic acquisition by Lupin for the domestic market underlines a significant step for the company going forward, expanding its presence across India. The five legacy brands will further diversify the Mumbai-headquartered pharma company’s portfolio, thereby bolstering it as a leading pharmaceutical player in the country.
The drugmaker has been exclusively marketing the aforementioned five brands in the Indian market since July 2021. It has been doing so under a distribution and promotion agreement with A. Menarini India Private Ltd, Lupin informed the bourses.
“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,” stated the MD of Lupin, Nilesh Gupta on Friday.
As for Menarini, the acquisition deal further marks the company’s commitment to expanding its Aesthetics and Dermatology business as well as portfolio.
Lupin’s shares were trading more than 2.18 per cent lower at Rs 1,104.35 per piece on the BSE at 2:07 PM on Friday.