Lupin Atlantis Holdings SA signs asset purchase agreement with Sanofi

Lupin Atlantis Holdings SA, Switzerland, ('LAHSA'), wholly owned subsidiary of Lupin Limited, has signed an Asset Purchase Agreement with Sanofi, a French multinational pharmaceutical and healthcare company, for acquiring a portfolio of accretive established products in Europe and Canada.

Sanofi is a French multinational pharmaceutical and healthcare company. The brands AARANE™ in Germany and NALCROM™ in Canada and the Netherlands are being acquired. The turnover of the said brands in these markets for the year ended March 31, 2023 was about USD 6.494 million (INR 537 million).

The brands being acquired are in line with the business of the Company.

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.

The purchase consideration for the above acquisition is EUR 10 million (INR 910 million) plus sales milestones up to EUR 8 million (INR 728 million), contingent upon future sales.

Shares of Lupin Limited was last trading in BSE at Rs. 1255.55 as compared to the previous close of Rs. 1227.80. The total number of shares traded during the day was 65021 in over 3056 trades.

The stock hit an intraday high of Rs. 1259.80 and intraday low of 1200.35. The net turnover during the day was Rs. 79789406.00.

Source : Equity Bulls

Keywords

Lupin INE326A01037 LupinAtlantisHoldingsSA AssetPurchaseAgreement Sanofi