Lupin signs First Partnership agreement with Foncoo for China

Global pharma major Lupin Limited (Lupin) today announced that it has entered into a partnership with Shenzhen Foncoo Pharmaceutical Co. Ltd (Foncoo). This is Lupin's first partnership arrangement in China and reinforces Lupin's commitment to bringing high quality generic and complex generic medicines to patients around the world.

Dr. Fabrice Egros, President - Growth Markets, Lupin said, "Lupin continues to invest in key growth markets. With China's growing commitment to affordable and accessible healthcare, Lupin is committed to serving the healthcare needs of the Chinese population by providing high quality generic and complex generic products. We are very excited about our partnership with Foncoo. We will continue exploring additional partnership opportunities in China to leverage our global portfolio including complex generics and specialty medicines."

Mr. Peng Yan, General Manager, Foncoo said, "Foncoo's successful experiences on importing registration and marketing of the generic formulations and Lupin's strong capability of making highquality medicines make us perfect match to each other and our collaboration will have a bright future most likely. We expect that the successful launch of our first product in China will come smoothly and soon. We will also continue exploring more opportunities to work with Lupin for providing more and more high-valued and complex medicines to the Chinese physicians and patients."

Shares of Lupin Limited was last trading in BSE at Rs. 942.55 as compared to the previous close of Rs. 942.55. The total number of shares traded during the day was 133259 in over 3802 trades.

The stock hit an intraday high of Rs. 961.50 and intraday low of 936.80. The net turnover during the day was Rs. 126454582.00.

Source : Equity Bulls

Keywords

Lupin INE326A01037 Partnership ShenzhenFoncooPharmaceutical Foncoo China