Lupin acquires majority stake in South African marketing co

MUMBAI: Drug firm Lupin today said it has acquired a majority stake in a South African marketing company for an undisclosed sum marking its entry into a developed pharma market.

"We have taken 60 per cent stake in Pharma Dynamics in South Africa, which has a leadership position in the cardiovascular segment," Lupin Chairman Desh Bandhu Gupta told reporters here. The South African pharma market is an advanced market and it is witnessing a 11 per cent year-on-year growth. The total market value is estimated at USD 2.5 billion. Lupin is India's fifth largest drug maker by sales and Pharma Dynamics and stands at number six among generic companies in South Africa.