Lupin Ltd, India’s third-largest drugmaker by sales, has inked an agreement with German-based Temmler Pharma GMBH and CO. KG to acquire its specialty product portfolio for an undisclosed amount, according to a stock market disclosure.
Temmler Pharma is part of the global contact manufacturing company Aenova Group and has a portfolio of 13 specialty products including therapies for central nervous system (CNS) disorders and drugs that address rare diseases like Myasthenia Gravis and Huntington disease, which is a type of dementia.
This is Lupin’s fourth overseas acquisition in 2015. Last week, it agreed to acquire US-based pharmaceutical major GAVIS Pharmaceuticals LLC and Novel Laboratories Inc(together known as GAVIS) for $880 million (Rs 5,610 crore), to strengthen its presence in the generic space in the world’s-biggest drug market.
It was the largest acquisition by an Indian drugmaker.
“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,” Lupin’s chief executive officer Vinita Gupta said in the statement.
“Temmler operates in niche segments and its specialty product portfolio has strong synergies with Hormosan’s existing CNS portfolio. The acquisition not only complements but would also enhance Hormosan’s specialty portfolio and enables it to grow into niche therapy areas,” said Maurice Chagnaud, president – Europe and head of Inhalation Strategy.
Earlier this month, it acquired Russia’s Biocom, marking its foray into Russia which is expected to be one of the top eight pharmaceutical markets in the world by 2018.
Besides, in March, it acquired the balance 40 per cent equity stake in South African generic drugmaker Pharma Dynamics (PD) from its founders to make it a wholly owned unit. It had picked 60 per cent stake in the firm in 2008.
In May, it acquired Brazil-based Medquímica Indústria Farmacêutica S.A., (Medquímica) which marked its foray into the Brazilian market.
For the financial year ended March 31, 2015, the company recorded a consolidated turnover of Rs 12,599.7 crore ($1.96 billion) and a net profit of Rs 2,403.2 crore ($375.3 million).
Shares of the firm closed the day at Rs 1617.50, down 3.26 on BSE in weak Mumbai market on Monday.