Lupin's Brazilian arm acquires 9 brand rights from Bausch Health; stock climbs ~2.5%
India Infoline News Service |
29 Nov, 2022 |
Lupin Limited (Lupin) announced that MedQuimica Industria FarmacÃªutica (MedQuimica), its wholly-owned subsidiary in Brazil, has signed a definitive agreement to acquire all rights to 9 medicines from BL Industria tica Ltda., Bausch Health Companies Inc.â€™s subsidiary.
MedQuimica will acquire the rights to nine products as part of the transaction, including Limbitrol, Melleril, and Dalmadorm for Central Nervous System conditions, Bacrocin, Glyquin, Solaquin, Oxipelle, Cuprimine for the treatment of Wilson's disease, and Efurix as topical oncological treatments. This move demonstrates the company's dedication to making healthcare solutions available to all patients.
"The acquired brands are well positioned and recognised among doctors and other medical fraternity members in Brazil for their dependability, safety, and trustworthiness," said Alexandre Franca, Managing Director of MedQuimica.
MedQuimica Pharmaceutical Industries has been in business for 47 years, with its headquarters in the Juiz de Fora Industrial District. Medqumica develops an extensive line of both solid and liquid medicines in Brazil, categorising them into five categories: OTC (over-the-counter medicines), Branded Generics, Hospital, Generics, and Food Supplements.
At around 9.19 AM, Lupin was trading at Rs751 up by 2.36% from its previous closing of Rs733.70 on the BSE. The scrip opened at Rs747 and has touched intraday high and low of Rs752.55 and Rs740.25 respectively.
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