Lupin Completes Acquisition of two Brands from Sanofi in Europe and Canada

Global pharma major Lupin Limited (Lupin) today announced that its European hub entity, Lupin Atlantis Holdings SA, has completed the acquisition of two well-known brands, Aarane™ in Germany and Nalcrom™ in Canada and the Netherlands, along with the associated trademark rights, from Sanofi.

The transaction aligns with Lupin's strategy to grow its global presence in Specialty areas, where the company has a leading position, with high-quality products that are innovative or unique in the market. This acquisition will enhance Lupin's Respiratory business in Germany, by aiding in the expansion of the newly established franchise, following the introduction of Luforbec™.

Nalcrom™ (sodium cromoglicate Oral) belongs to a group of medicines called anti-allergics. It is used to treat food allergies after adequate testing for sensitivity to specific allergens in conjunction with restricting the main allergens.

Aarane™ (sodium cromoglicate/reproterol hydrochloride pressurized inhalation) is a chromone complex indicated in symptomatic acute treatment of sudden asthma attacks (e.g., allergic forms or those triggered by exertion, stress or infections) and targeted prevention of exercise-induced asthma or in cases of foreseeable allergen contact.

Dr. Fabrice Egros, President - Corporate Development, Lupin said, "This acquisition will strengthen our global position in treating patients suffering from diverse respiratory diseases and conditions, and it adds accretive assets in gastro-intestinal care that broaden our portfolio of branded products. We are committed to provide our customers and patients with the best products and services in the market segments where we are present, improving the quality of life for millions of people around the world."

Shares of Lupin Limited was last trading in BSE at Rs. 1629.80 as compared to the previous close of Rs. 1563.25. The total number of shares traded during the day was 17519 in over 1666 trades.

The stock hit an intraday high of Rs. 1644.65 and intraday low of 1572.25. The net turnover during the day was Rs. 28341226.00.

Source : Equity Bulls

Keywords

Lupin INE326A01037 LupinAtlantisHoldingsSA Acquisition Aarane Nalcrom Sanofi