Lupin to acquire diabetes brands Ondero, Ondero-Met from Boehringer Ingelheim for Rs 207 crore
New Delhi: Lupin Limited is soon going to acquire two diabetes brands Ondero and Ondero - Met from Boehringer Ingelheim International GmbH for Rs 207 crore, the company stated in a BSE filing.
The drugmaker has informed in a BSE filing, "We are pleased to announce that the Company has entered into Deed of Assignment with Boehringer Ingelheim International GmbH for the acquisition of brands Ondero and Ondero - Met (including trademark rights associated with the brands), which will enable the Company to provide comprehensive and best-in-class treatment options for diabetes management."
The brands related to medicines for the diabetic segment. The said acquisition is for a cash consideration of Rs 207 crore.
Read also: Lupin rationalising product portfolio in US to overcome price erosion impact, says CEO Vinita Gupta
Boehringer Ingelheim International GmbH is a company incorporated under the laws of Germany. It is engaged in the pharmaceutical industry.
Recently, Lupin Limited has also entered into an exclusive licensing agreement with I'rom Group Co. Ltd, a pharmaceutical company in Japan. Under the terms of the Agreement, I'rom will conduct clinical trials along with Lupin, register, distribute and market biosimilar Denosumab in Japan on an exclusive basis.
Read also: Lupin, I'rom ink pact for biosimilar Denosumab
Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India. The Company develops and commercializes a wide range of branded and generic formulations, biotechnology products and APIs in over 100 markets in the U.S., India, South Africa and across Asia Pacific (APAC), Latin America (LATAM), Europe and Middle-East regions.
The Company specializes in the cardiovascular, anti-diabetic, and respiratory segments and has significant presence in the anti-infective, gastro-intestinal (GI), central nervous system (CNS) and women's health areas.
Read also: Lupin gets USFDA nod for generic equivalent of Mylan Specialty Perforomist Inhalation Solution
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