Lupin acquires Southern Cross Pharma in Australia

The company, however, did not disclose financial details of the transaction.

Lupin said as a part of the transaction, Generic Health will gain access to over 60 registered products having sales of over AUD 30 million (approximately USD 22 million).

This will significantly increase Lupin's value proposition and market share in the Australian market, the company said.

Nilesh Gupta, Managing Director Lupin said this is an important acquisition for the Australian entity and is aligned with Lupin's strategy to expand and deepen its presence in select markets of focus.

"The Southern Cross Pharma portfolio builds on our existing portfolio of prescription generics, over the counter and specialty range of products. This investment significantly increases our scale in Australia and reinforces our commitment to patients in Australia," he said.

Ashutosh Damle, CEO, Generic Health said the company will benefit from SCP's portfolio of over 60 difficult-to-develop generic pharmaceutical products.

Read Also: Lupin Launches Generic Equivalent Of Kerydin Topical Solution In US