Lupin looks for acquisitions abroad
Pharma company Lupin is looking at acquisitions abroad for its expansion plans this fiscal and has raised US$ 100 million for the purpose.
MUMBAI: Pharma company Lupin is looking at acquisitions abroad for its expansion plans this fiscal and has raised US$ 100 million for the purpose.
"We are evaluating certain candidates and within two or three months we should be able to make the announcement... We would use US$ 100 million raised through foreign currency convertible bonds for the acquisition," said Lupin Managing Director Kamal K Sharma.
Presently, the Mumbai-based company is doing the due diligence for its acquisitions, Sharma said without divulging other details. The company had raised US$ 100 million through FCCB about a year ago.
"Before acquiring any company, Lupin takes into account three things - "market, right size and synergy", he said.
Lupin also plans to launch a few products in the current financial year. "We would launch four products in India and seven to nine in the US. They would be in the areas of antibiotics and cardiovascular diseases," Sharma said.
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Lupin entered the US, the world's biggest pharma market, about four years ago. It has presence in both generic and branded segments in the US.Sharma said the pharma company has been able to garner 20 per cent marketshare in the US generic business.
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