Lupin, a leading Indian pharmaceutical company, has announced its acquisition of a selection of established products in Europe and Canada from Sanofi, a prominent French multinational pharmaceutical corporation. The deal, valued at EUR 10 million (approximately Rs 91 crore), involves Lupin's subsidiary, Lupin Atlantis Holdings SA, Switzerland, which inked an asset purchase agreement with Sanofi.
According to Lupin's regulatory filing, the acquisition cost comprises EUR 10 million (Rs 91 crore) upfront, along with potential additional payments of up to EUR 8 million (Rs 72.8 crore) based on future sales milestones.
As part of this agreement, Lupin will take ownership of AARANE in Germany and NALCROM in Canada and the Netherlands. The turnover generated by these brands in the markets totaled approximately USD 6.494 million (Rs 53.7 crore) for the year ending March 31, 2023.
Lupin emphasized the strategic significance of this transaction, particularly in bolstering its respiratory portfolio in Germany. The move aligns with Lupin's efforts following the introduction of LUFORBEC in Germany, the launch of Gx SPIRIVA, and the prior acquisitions of XOPENEX and BROVANA in the United States.
The completion of this acquisition is subject to approval from Canada's Foreign Direct Investment Bureau and is expected to finalize by the first quarter of 2024, as disclosed by Lupin.
Sembcorp Teams Up for Green Hydrogen Export from India to Japan
