Lupin signs agreement to pay Rs 101 crore to Menarini to purchase 5 medication brands

25 Sep 2023 , 01:20 PM

The pharmaceutical company Lupin said that it has signed a contract to pay Rs 101 crore to Menarini of Italy to buy five medication brands. The Mumbai-based firm announced in a statement that it has inked an agreement to purchase five legacy brands serving the gastrointestinal, urology, and anti-infective categories.

The names of the brands are Pyridium (Phenazopyridine), Piclin (Picosulphate Sodium), Menoctyl (Otilonium Bromide), Sucramal O (Sucralfate + Oxetacaine), and Distaclor (Cefaclor), it was added.

In accordance with a distribution and promotion agreement with A Menarini India Pvt Ltd, Lupin has been promoting these brands solely in the Indian market since July 2021.

A renowned global pharmaceutical and diagnostics firm, Menarini Group has over 17,000 employees and an annual revenue of over USD 4.4 billion.

A wholly owned subsidiary of the Menarini Group is Menarini India.

Nilesh Gupta, the managing director of Lupin, stated that the acquisition fits in well with the business’s strategy objective to increase its footprint in the Indian market.

By providing a wide selection of products, he continued, ‘we hope to provide even greater value to our stakeholders and the communities we serve.’

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