Lupin & Symbiotec join hands on Steroids

Lupin Ltd has announced that the Company has signed a MoU with Symbiotec Pharmalab Ltd. (Symbiotec), an Indian Company focussed on steroids, for a joint venture by making an equity investment in Symbiotec for a majority stake.

Steroids have very wide application area especially in the field of Respiratory Dermatology, Arthritis, Contraceptives and Pro-Pregnancy applications. They are applied as Life saving drugs because of their unique property to restore the normal functioning of vital body organs in death-like situations. Steroidal Hormones can be formulated in various forms like injectables, inhalers, liquid, oral as well as semi-solid forms. It is estimated that market for steroids is over USD 10 billion and growing at about 8% annually.

Dr. Desh Bandhu Gupta, Chairman, of the Company, said, "We have proven track record of having achieved global position in every therapy we have entered at API level. We would endeavour to repeat the same in the field of Steroids as well. This alliance enables us to aggressively pursue our strategic initiative to participate in the Steroids formulation business in chosen global markets including US and Europe."

Source : Equity Bulls

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