Lupin Plans 43.38% Stake Buy In Multicare Philippines For $39.6 Million By May 2026

Mumbai: Lupin’s subsidiary Nanomi plans to acquire 43.38 percent of Multicare Pharmaceuticals Philippines, Inc. This involves 11,794,497 shares from existing shareholders. Once completed, the move positions Lupin to eventually convert the company into a wholly owned subsidiary, tightening control over operations.

The acquisition will be carried out through cash consideration, with a total cost not exceeding 39.6 million dollars. Multicare reported turnover of PHP 2,096.6 million and net worth of PHP 1,265.5 million as of March 31, 2025. The company has shown fluctuating revenue trends over the last three years.

The Philippines-based company focuses on trading, importing, marketing, and distributing pharmaceutical products and medical devices. Lupin’s management indicated that the acquisition will strengthen its market standing in the Philippines and allow deeper integration of operations through Nanomi.

The transaction is aligned with Lupin’s broader plan to unify its emerging market businesses. By increasing ownership, the company gains greater strategic flexibility and control, enabling it to unlock long-term value while consolidating its presence in a growing healthcare market. With this acquisition, Lupin moves closer to full ownership of its Philippines business, reinforcing its strategy of scaling international operations through targeted stake increases.

Disclaimer: This article is based solely on the company’s stock exchange filing and does not include external sources or independent verification.