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Updated on: Saturday, June 01, 2019, 02:32 PM IST

Lupin forays into LATAM market, buys Mexican firm

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New Delhi : Drug major Lupin acquired Mexico’s Laboratorios Grin, a leading player in ophthalmic products, for an undisclosed amount, marking its foray into the Latin American country. The company said it has acquired 100% equity stake in Laboratorios Grin, Mexico.

Incorporated in 1955, Grin is a speciality pharmaceutical company engaged in the development, manufacturing and commercialisation of branded ophthalmic products.

It posted revenues of around USD 28 million in calendar year, 2013 and has over 275 employees.

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 “We are very pleased with our entry into the Mexican market through Laboratorios Grin. This acquisition is a reflection of Lupin’s commitment to expand into the Latin American market and build its global speciality business,” Lupin Chief Executive Officer Vinita Gupta said.

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Published on: Friday, March 28, 2014, 12:06 AM IST
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