Lupin announces Acquisition of French Pharmaceutical Company Medisol

Global pharma major Lupin Limited (Lupin) today announced that it has entered into a definitive agreement to acquire the entire share capital of the French pharmaceutical company, Medisol, subject to approval from the French Ministry of Economy and Finance.

Founded in 2011, Medisol specializes in Generics Injectable products and is engaged in developing and commercializing its products in France, in pharmacies and in hospitals. With this acquisition, Lupin will gain access to Medisol's portfolio of seven injectable products across four therapeutic areas, including pain management, anti-inflammatory, cardiovascular diseases, and obstetrics.

Commenting on the acquisition, Vinita Gupta, CEO, Lupin said, "The acquisition of Medisol is part of our strategy to expand our presence in the EU and accelerate our Injectables franchise in France."

Thierry Volle, President - EMEA, Lupin added, "The acquisition of Medisol marks a significant milestone in Lupin's journey to strengthen our injectables portfolio in France, the second-largest market in Europe for injectables. Medisol's unique product portfolio complements our existing range, enabling us to offer our customers an even more robust selection of high-quality products. This acquisition underscores our unwavering commitment to expanding our presence in the EMEA region and providing superior healthcare to patients."

Medisol commented, "We are proud to have found a partner like Lupin who shares our vision and commitment to improving patient outcomes. Since our founding in 2011, Medisol has built a niche portfolio of generic injectable products that have made a positive impact on patients in France. With Lupin's extensive capabilities and expertise in the injectables space, Medisol's products will continue to be available to more patients in France."

Shares of Lupin Limited was last trading in BSE at Rs. 704.65 as compared to the previous close of Rs. 710.20. The total number of shares traded during the day was 26274 in over 1368 trades.

The stock hit an intraday high of Rs. 713.00 and intraday low of 702.20. The net turnover during the day was Rs. 18594349.00.

Source : Equity Bulls

Keywords

Lupin INE326A01037 Acquisition Medisol