Lupin on buying spree; to acquire German Co's product portfolio

A day after announcing its biggest acquisition deal of USD 880 million, Lupin Friday said it will buy Germany-based Temmler Pharma's specialty product portfolio.

New Delhi: A day after announcing its biggest acquisition deal of USD 880 million, Lupin Friday said it will buy Germany-based Temmler Pharma's specialty product portfolio.

The country's third largest drug maker by sales said it has entered into a strategic asset purchase agreement with Temmler Pharma, a part of the Aenova Group, which is one of the world's largest pharmaceutical contract manufacturers, to acquire its specialty product portfolio.

The announcement came just a day after, the Mumbai-based company inked a deal to buy US-based Gavis Pharmaceuticals for USD 880 million (Rs 5,610 crore) - its largest acquisition so far to expand in the US generics market.

Commenting on the deal with the German firm, Lupin CEO Vinita Gupta said, "We are very pleased to add to our specialty business with this acquisition. Temmler's business has a strong strategic fit with Lupin's Hormosan business in Germany and enables Lupin to bring an enhanced specialty CNS portfolio to the German market.

Based in Marburg (Germany), Temmler has a specialty portfolio of 13 products including key Central Nervous System products and specialty products that address rare disease areas like Myasthenia Gravis, Huntington disease as well as fast-growing dermatology products for anti-wart treatment.

"Temmler is a profitable pharmaceutical player backed by a strong and experienced management team that is also taken on and which will strongly support our future growth plans," Lupin, President- Europe and Head of Inhalation Strategy, Maurice Chagnaud said.

Aenova Group CFO, Frank Elsen said Lupin is perfectly poised to take Temmler's product portfolio and its growth forward.

"We are extremely optimistic about this strategic agreement which allows us to concentrate on our core business. As a leading CDMO we are proud to continue to manufacture and supply at highest quality all related products to our partner Lupin," he added.

Lupin is on a spree to acquire pharmaceutical firms globally.

Earlier this month, the company acquired Russia's Biocom, marking its entry into one of the world's top drug markets. In May, Lupin strengthened its position in the Latin American market when it entered the Brazilian market by acquiring Medquimica Industria Farmaceutica SA.

Last year, Lupin had acquired Laboratories Grin SA in Mexico, the fourth largest drugmaker in that country.

Lupin's stock closed at Rs 1,672, down 3.27 percent, on the BSE.

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