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Lupin buys five brands from Italy-based Menarini for Rs 101 cr
22-Sep-23   14:46 Hrs IST

Menarini group, is a leading international pharma and diagnostics company, with presence in over 140 countries. It is focused on therapeutic areas viz. cardiology, oncology, pneumology, gastroenterology, infectious diseases, diabetology, inflammation and analgesia. For FY23, revenues from the target portfolio products stood at Rs 32.2 crore.

In a regulatory filing, Lupin said, ?The company has signed an agreement to acquire five legacy brands in strategic therapy areas - gastroenterology, urology and anti-infectives from Menarini (A. Menarini India and A. Menarini AsiaPacific Holdings Pte), along with the associated trademark rights.?

The five brands are Piclin (Picosulphate Sodium), Menoctyl (Otilonium Bromide), Sucramal O (Sucralfate + Oxetacaine), Pyridium (Phenazopyridine) and Distaclor (Cefaclor).

The pharma company said that it has been exclusively marketing these brands in the Indian market since July 2021 under a distribution and promotion agreement with A. Menarini India.

This strategic acquisition for the Indian market marks a significant step forward for Lupin as it continues to expand its presence in India, it added.

These legacy brands help the company in further enhancing its diverse portfolio and solidifying its position as a leading pharmaceutical organization in India.

?The acquisition is of brands along with the associated trademark rights and not of any unit or division of Menarini,? Lupin stated.

Nilesh Gupta, managing director, Lupin said, ?This acquisition aligns well with our strategic goal to broaden our presence in the Indian market. By offering a comprehensive range of products, our aim is to deliver even greater value to our stakeholders and the communities we serve.?

Rajeev Sibal, President - India Region Formulations, Lupin, said ?Growing urbanization and dietary changes are driving the demand for gastrointestinal and urology treatments in India. This acquisition strengthens our presence in India and bolsters our therapy pipeline.

Mumbai-based Lupin is an innovation-led transnational pharmaceutical company. It develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.

The company reported consolidated net profit of Rs 452.26 crore in Q1 FY24 as compared with net loss of Rs 89.08 crore in Q1 FY23. Revenue from operations jumped 31.58% YoY to Rs 4,742.12 crore in Q1 FY24.

Shares of Lupin slipped 2.66% to Rs 1,098.95 on the BSE.

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