Lupin May Sell Its India Pharma Unit
Lupin Limited may sell its India formulations business. Promoter of Lupin, Dr Desh Bandhu Gupta and promoter group, together hold 46.96% stake in the company.
The Indian market contributed 32 % of Lupin's revenue of Rs.5,706 Cr in 2010-11. Sales at Lupin's domestic formulations unit increased by 17% to Rs.1,550 Cr in fiscal year ending 2011.
Transaction Reference: Economic Times
Founded in 1968, Mumbai-based Lupin produces generic and branded formulations and APIs and its manufacturing facilities are spread across India and Japan. It claims to be world's largest maker of anti-tuberculosis drugs.
Eight of Lupin's nine manufacturing facilities are in India - Goa, Tarapur, Ankleshwar, Jammu, Mandideep, Indore, Aurangabad and Vadodara. The ninth is in Sanda, Japan. Lupins products are sold in over 70 countries.
Recently, Lupin acquired the worldwide rights for Australian brand Goanna from Aspen Pharmacare Holdings, through its Australian subsidiary Generic Health Pty Ltd.
In 2010, it acquired controlling stake in Generic Health Pty, company engaged in marketing, selling and distributing a range of generic pharmaceutical prescription and OTC medications.
Last year, Piramal Healthcare sold its domestic pharmaceutical business for $3.72 Bn to US-based pharma company Abbott. According to Ajay Piramal, the deal was valued at nine times teh annual sales.
Japanese pharma major Daiichi-Sankyo acquired control of Ranbaxy Laboratories Ltd, paying the promoters, the Singh family, about $4.6 Bn.
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