Lupin's Subsidiary Enters Agreement With Sanofi To Acquire Established Pharmaceutical Products In Europe & Canada

Lupin Limited on Friday said that Lupin Atlantis Holdings SA, Switzerland, (LAHSA), wholly owned subsidiary of the company has signed an Asset Purchase Agreement with Sanofi, a French multinational pharmaceutical and healthcare company, for acquiring a portfolio of accretive established products in Europe and Canada, the company announced through an exchange filing.

About the entity

Sanofi is a French multinational pharmaceutical and healthcare company. The brands AARANE™ in Germany and NALCROM™ in Canada and the Netherlands are being acquired. The turnover of the said brands in these markets for the year ended March 31, 2023 was about USD 6.494 million (Rs 537 million).

Object and impact of the acquisition

The brands being acquired are in line with the business of the Company. The proposed transaction is of strategic interest by bringing accretive assets in the respiratory field to help structure the Company’s new respiratory franchise in Germany following the launch of LUFORBEC™ in Germany, the launch of Gx SPIRIVA™ and the acquisition of XOPENEX™ and BROVANA™ in the US.

Cost of acquisition

The purchase consideration is EUR 10 million (Rs 910 million) plus sales milestones up to EUR 8 million (Rs 728 million), contingent upon future sales.

Lupin Limited shares

The shares of Lupin Limited on Friday at 11:56 am IST were at Rs 1,277.55, up by 1.65 per cent.

Published on: Friday, December 22, 2023, 12:03 PM IST