Lupin - Acquires a company in Mexico Pharmaceutical - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP - Research - Pharma, Angel Broking)

Lupin- Acquires a company in Mexico Pharmaceutical:

"Lupin announced the acquisition of 100 % equity stake in Laboratorios Grin, S.A. De C.V. (Grin), Mexico. The acquisition marks Lupin's foray into the high growth Mexican and the larger Latin American pharmaceuticals market. Mexico is one of the fastest growing pharmaceutical markets in the world valued at over US $13.5bn and growing at 9-10% annually. Incorporated in 1955, Grin is a specialty pharmaceutical company engaged in the development, manufacturing & commercialization of branded ophthalmic products. Grin is a leading ophthalmic player and a trusted brand in Mexico. Laboratorios Grin recorded revenues of approximately $28mn in CY2013 and has over 275 employees. The acquisition will provide a lot of synergies to the company and add to its ophthalmic pipeline. We remain neutral on the stock."

Source : Equity Bulls

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