Lupin signs first partnership agreement with Foncoo for China

Lupin on Wednesday announced that it has entered into a partnership with Shenzhen Foncoo Pharmaceutical Co for providing high quality generic and complex generic medicines to patients around the world.

January 19, 2022 10:46 IST | capital market
Lupin said that this its first partnership arrangement in China and reinforces the companys commitment to bringing high quality generic and complex generic medicines to patients around the world.

Dr. Fabrice Egros, president - growth markets of Lupin said, ?Lupin continues to invest in key growth markets. With Chinas growing commitment to affordable and accessible healthcare, Lupin is committed to serving the healthcare needs of the Chinese population by providing high quality generic and complex generic products. We are very excited about our partnership with Foncoo. We will continue exploring additional partnership opportunities in China to leverage our global portfolio including complex generics and specialty medicines.?

Shenzhen Foncoo Pharmaceutical Co., Ltd. specializes in providing pharmaceutical products that treat Central Nervous System disorders. Its headquarter is located in Shenzhen, China

Lupin is a transnational pharmaceutical company. The company 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 Asia Pacific (APAC), Latin America (LATAM), Europe and Middle-East regions.

The company reported a consolidated net loss of Rs 2,094.87 crore in Q2 FY22 as against net profit of Rs 213.51 crore in Q2 FY21. On a consolidated basis, net sales rose 5.9% to Rs 4,003.42 crore in Q2 FY22 over Q2 FY21.

The scrip rose 0.37% to currently trade at Rs 946.05 on the BSE.

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