Compiled by: Business desk
Last updated: Sep 22, 2023 3:43 PM IST
Lupine has signed an agreement with A. Menarini India and A. Menarini Asia-Pacific Holdings to acquire five existing brands, along with associated trademark rights.
The pharmaceutical major signed an agreement to acquire five existing 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 the strategic therapy areas of gastroenterology, anti-infectives and urology, the company said in a filing with the stock exchanges.
In addition to the five existing brands, Lupine will also acquire the associated trademark rights. These brands include Piclin (Picosulfate Sodium), Sucramal O (Sucralfate plus Oxetacaine), Pyridium (Phenazopyridine), Menoctyl (Otilonium Bromide) and Distaclor (Cefaclor).
The said strategic acquisition by Lupine for the domestic market underlines an important step for the company going forward and expands its presence across India. The five existing brands will further diversify the Mumbai-based pharmaceutical company’s portfolio, strengthening the company as a leading pharmaceutical player in the country.
The drugmaker has been marketing the above-mentioned five brands exclusively in the Indian market since July 2021. He does this under a distribution and promotion agreement with A. Menarini India Private Ltd, Lupine informed the stock exchanges.
“This acquisition fits 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,” Lupine MD Nilesh Gupta said on Friday.
As for Menarini, the acquisition agreement further underlines the company’s commitment to expanding its aesthetics and dermatology businesses, as well as its portfolio.
Shares of Lupine were trading over 2.18 per cent lower at Rs 1,104.35 apiece on the BSE at 2.07 pm on Friday.