Published By: Mohammad Haris
Last Updated: September 22, 2023, 17:43 IST
Lupin Managing Director Nilesh Gupta said the acquisition aligns well with the company’s strategic goal to broaden presence in the Indian market.
Lupin has been exclusively marketing these brands in the Indian market since July 2021 under a distribution and promotion agreement with A Menarini India Pvt Ltd
Drug firm Lupin on Friday said it has inked a pact to acquire five drug brands from Italian firm Menarini for Rs 101 crore. The company has signed an agreement to acquire five legacy brands catering to gastroenterology, urology and anti-infective segments, the Mumbai-based company said in a statement.
The brands are Piclin (Picosulphate Sodium), Menoctyl (Otilonium Bromide), Sucramal O (Sucralfate + Oxetacaine), Pyridium (Phenazopyridine) and Distaclor (Cefaclor), it added.
Lupin has been exclusively marketing these brands in the Indian market since July 2021 under a distribution and promotion agreement with A Menarini India Pvt Ltd.
Menarini Group is a leading international pharmaceutical and diagnostics company, with a turnover of over USD 4.4 billion and over 17,000 employees.
Menarini India is a 100 per cent subsidiary of Menarini Group.
Lupin Managing Director Nilesh Gupta said the acquisition aligns well with the company’s strategic goal to broaden presence in the Indian market.
“comprehensive range of products, our aim is to deliver even greater value to our stakeholders and the communities we serve,” he added.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
