Lupin acquires Russian drug firm Biocom

Lupin, India's fifth largest drug maker, has entered the Russian market by acquiring 100% stake in Biocom, a fast-growing generic pharmaceuticals firm, for an undisclosed amount. "Russia is an attractive market and this acquisition will also enable our expansion into neighbouring markets," said Vinita Gupta, CEO at Lupin.

The acquisition marks Mumbai-based firm's entry into the Russian pharmaceutical market which recorded RUB 765 billion in sales.