Lupin eyeing more acquisitions overseas
Pharma major, Lupin, is eyeing more acquisitions globally, a top company official said. "We are looking for acquisitions in Australia, Africa, Japan and also in other parts of the world," Lupin's Chairman, D B Gupta, told reporters on Wednesday.
By PTI |
MUMBAI: Pharma major, Lupin, is eyeing more acquisitions globally, a top company official said.
"We are looking for acquisitions in Australia, Africa, Japan and also in other parts of the world," Lupin's Chairman, D B Gupta, told reporters on Wednesday.
"If we want to enter a new market, it has to be either organic or inorganic. Since organic expansion takes a lot of time we prefer the inorganic route," he added.
The company today announced the acquisition of Hormosan Pharma GmbH (Hormosan), a German sales and marketing generics company specialising in supply of pharmaceutical products for the central nervous system, for an undisclosed amount.
"We have invested modestly for the acquisition," Gupta said, declining to divulge the exact figure.
Germany's pharma market size is estimated at $ 45- billion, of which generic comprises $ 14-billion and which is the second largest generic market globally.
Hormosan had total sales of Euro 6.8-million for the year-ended December 2007 and develops, licenses and markets a range of generics in Germany. It has created a strong brand identity in the German generics market through its patient compliance message, essential for patients within the CNS sector.
"If we want to enter a new market, it has to be either organic or inorganic. Since organic expansion takes a lot of time we prefer the inorganic route," he added.
The company today announced the acquisition of Hormosan Pharma GmbH (Hormosan), a German sales and marketing generics company specialising in supply of pharmaceutical products for the central nervous system, for an undisclosed amount.
"We have invested modestly for the acquisition," Gupta said, declining to divulge the exact figure.
Germany's pharma market size is estimated at $ 45- billion, of which generic comprises $ 14-billion and which is the second largest generic market globally.
Hormosan had total sales of Euro 6.8-million for the year-ended December 2007 and develops, licenses and markets a range of generics in Germany. It has created a strong brand identity in the German generics market through its patient compliance message, essential for patients within the CNS sector.
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Commenting on the acquisition Gupta said, "this is in line with our M&A strategy to harness the potential of the leading global pharma markets. This move establishes a bridgehead in Germany and is our first acquistion in the important European market." Start a SIP with as low as ₹500 with ET Money App!
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