lupinLupin has acquired US-based Symbiotix Therapeutics in a deal worth $150 million (around Rs 975 core) to grow its women’s health business.

The US market contributes around 45 per cent to Lupin’s revenue, and this is the drug maker’s second big acquisition in gthe US in the past 15 months. Earlier, it acquired Gavis for $880 million.

 

Lupin said the acquisition was made for a cash consideration or $150 million, including a $50 million upfront and other time based payments. In addition, there are sales based contingent payments, the company said in a statement.
Women’s health is one of the important segments for Lupin and the company has been scouting for speciality products in that space as generic drugs come under pricing pressure. Last month it hired pharma industry veteran Jim Loerop as it’s chief corporate development officer to head it’s merger and acquisition strategy

 

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