Lupin buys diabetes brands Ondero, Ondero Met from Boehringer Ingelheim International for Rs 235 Crore
Mumbai: Global pharma major Lupin Limited has announced the acquisition of diabetes brands ONDERO and ONDERO MET, from Boehringer Ingelheim International GmbH, including the trademark rights associated with these brands. The cost of acquisition of brands is Euro 26 million.
Lupin has been marketing ONDERO and ONDERO MET since 2015 in the Indian market as part of a comarketing agreement with Boehringer Ingelheim India.
In India, an estimated 77 million people above the age of 18 years have Type-2 Diabetes, while nearly 25 million are pre-diabetic, at higher risk of developing diabetes in the future.
“Lupin is at the forefront of providing quality pharmaceutical products to patients. With the acquisition of ONDERO and ONDERO MET, we continue to offer a wide portfolio of products to enable access to medication for patients, and further consolidate our position as a market leader in the anti-diabetes segment,” said Nilesh Gupta, Managing Director, Lupin.
Commenting on the acquisition, Rajeev Sibal, President – India Region Formulations, Lupin said, “The disease burden of diabetes is constantly increasing fueled by the prevalence of obesity and unhealthy lifestyles. This important acquisition reflects our steadfast dedication in empowering healthcare professionals to combat the growing menace of diabetes in India and significantly improve the lives of those facing this challenging disease.”
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