Lupin’s Swiss unit to acquire established product portfolio from Sanofi

22 Dec 2023 , 11:08 PM

Lupin Ltd stated on Friday that its wholly-owned subsidiary in Switzerland will purchase Sanofi PLC’s portfolio of accretive established pharmaceuticals in Europe.

Lupin Atlantis Holdings SA, Switzerland (LAHSA), a subsidiary of pharma giant Lupin, inked an ‘Asset Purchase Agreement’ with the French multinational pharmaceutical and healthcare firm Sanofi to purchase a portfolio of accretive established products in Europe and Canada.

AARANE in Germany and NALCROM in Canada and the Netherlands are among the brands bought by Lupin Atlantis Holdings SA, Switzerland, from Sanofi.

The acquisition of the two brands costs 10 million euros (about Rs 91 crore), plus sales milestones of up to 8 million euros (around Rs 72.8 crore), depending on future sales. The corporation told the exchanges that the transaction would be conducted in cash.

Lupin is acquiring these brands as part of a strategic interest in bringing accretive assets in the respiratory field to help structure the company’s new respiratory franchise in Germany, following the launch of Luforbec and Gx Spiriva, as well as the acquisition of the brands Xopenex and Brovana in the United States.

The purchase is subject to Foreign Direct Investment Bureau of Canada clearance and is scheduled to be finalised by the first quarter of 2024.

Lupin’s counter settled with a gain of 0.65% at Rs 1,265 per piece on NSE.

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