Drugmaker Lupine will acquire five legacy brands of Italian pharmaceutical group Menarini for Rs 101 crore. These brands cover therapeutic areas such as gastroenterology, urology and anti-infectives.
Lupine said the company has signed agreements with Menarini (A. Menarini India Pvt Ltd and A. Menarini Asia-Pacific Holdings Pte Ltd.) to acquire these brands and their trademark rights.
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These brands include Piclin (sodium picosulfate), Menoctyl (octilonium bromide), Sucramal O (sucralfate + oxycaine), Pyridium (phenazopyridine) and Distaclor (cefacllor). The company told BSE that the above-mentioned brands had a turnover of approximately Rs 32 crore for the financial year ending March 31, 2023.
Lupine has been marketing these brands exclusively in India since July 2021 under a distribution and promotion agreement with A. Menarini India. The company said these legacy brands will help strengthen Lupin’s diversified product portfolio.
Nilesh Gupta, managing director of Lupine, said the acquisition is in line with the company’s goal of expanding its presence in the Indian market. “Growing urbanization and dietary changes are driving demand for gastrointestinal and urological treatments in India,” added Rajeev Sibal, president (regional formulations, India), Lupine.
Girisan Kariangal, Managing Director, Menarini India, said that for Menarini, this transaction signals its commitment to expand its dermatology and beauty product portfolio.