Lupin to buy established products portfolio in Europe, Canada from Sanofi for Rs 91 crore

Written by Ruchika Sharma Published On 2023-12-23T15:47:30+05:30 | Updated On 26 Dec 2023 9:11 PM IST

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Under the agreement, Lupin will acquire brands AARANE in Germany and NALCROM in Canada and the Netherlands.

New Delhi: Home-grown pharma major Lupin Ltd has said it acquired a portfolio of established products in Europe and Canada from Sanofi for a purchase consideration of EUR 10 million (Rs 91 crore).

Lupin Atlantis Holdings SA, Switzerland, a wholly-owned subsidiary of the company, has signed an asset purchase agreement with Sanofi, a French multinational pharmaceutical and healthcare company, for the purpose, Lupin said in a regulatory filing.

The purchase consideration is EUR 10 million (Rs 91 crore) plus sales milestones up to EUR 8 million (Rs 72.8 crore), contingent upon future sales, it added.

Under the agreement, Lupin will acquire brands AARANE in Germany and NALCROM in Canada and the Netherlands. The turnover of the said brands in these markets for the year ended March 31, 2023 was about USD 6.494 million (Rs 53.7 crore), the company said.

"The proposed transaction is of strategic interest by bringing accretive assets in the respiratory field to help structure the company's new respiratory franchise in Germany following the launch of LUFORBEC in Germany, the launch of Gx SPIRIVA and the acquisition of XOPENEX and BROVANA in the US," it added.

The transaction will require approval of the Foreign Direct Investment Bureau of Canada and is planned to be completed by the first quarter of 2024, Lupin said.

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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 the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions. The Company specializes in the cardiovascular, anti-diabetic, and respiratory segments and has a significant presence in the anti-infective, gastro-intestinal (GI), central nervous system (CNS), and women’s health areas. The company invested 7.9% of its revenue in research and development in FY23. Lupin has 15 manufacturing sites, 7 research centers.

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Source : with inputs

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751