Global pharma major Lupin Limited (Lupin) announced today that it has signed an agreement to acquire five legacy brands in strategic therapy areas - Gastroenterology, Urology and Anti-infectives from Menarini (A. Menarini India Private Limited and A. Menarini AsiaPacific Holdings Pte. Ltd.), along with the associated trademark rights. The brands are Piclin (Picosulphate Sodium), Menoctyl (Otilonium Bromide), Sucramal O (Sucralfate + Oxetacaine), Pyridium (Phenazopyridine) and Distaclor (Cefaclor).
Lupin has been exclusively marketing these brands in the Indian market since July 2021 under a distribution and promotion agreement with A. Menarini India Private Limited. This strategic acquisition for the Indian market marks a significant step forward for Lupin as it continues to expand its presence in India. These legacy brands help Lupin in further enhancing its diverse portfolio and solidifying its position as a leading pharmaceutical organization in India.
Commenting on the acquisition, Nilesh Gupta, Managing Director, Lupin said, "This acquisition aligns well with our strategic goal to broaden our presence in the Indian market. By offering a comprehensive range of products, our aim is to deliver even greater value to our stakeholders and the communities we serve."
"Growing urbanization and dietary changes are driving the demand for gastrointestinal and urology treatments in India," said Rajeev Sibal, President - India Region Formulations, Lupin. "This acquisition strengthens our presence in India and bolsters our therapy pipeline. At Lupin, we are committed to empowering healthcare professionals in managing the increasing disease burden and improving the lives of patients significantly."
"Lupin has been successfully marketing the scope brands for Menarini since 2021, which has been a testament to our evolved collaboration. I am happy that Lupin will now carry forward their legacy with full trademark ownership. For Menarini, this transaction further signals our continued commitment to nurture and expand our Dermatology and Aesthetics portfolio and business. Menarini is a top 10 multinational company in this therapeutic area in India and has witnessed strong organic and inorganic growth," said Girisan Kariangal, Managing Director - Menarini India.
Shares of Lupin Limited was last trading in BSE at Rs. 1128.95 as compared to the previous close of Rs. 1149.10. The total number of shares traded during the day was 9601 in over 518 trades.
The stock hit an intraday high of Rs. 1148.50 and intraday low of 1123.30. The net turnover during the day was Rs. 10938289.00.