Drugmaker Lupin said its Swiss subsidiary, Lupin Atlantis Holdings SA, had signed an Asset Purchase Agreement with French multinational Sanofi to acquire a portfolio of established products in Europe and Canada.
The company said it was acquiring brands AARANE in Germany and NALCROM in Canada and the Netherlands. The purchase consideration was €10 million (₹91 crore), besides sales milestones up to €8 million (₹72 crore), dependant on future sales, it said. The turnover of the brands in these markets for the year ended March 31, 2023 was about $6.494 million (₹53 crore), Lupin said.
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The brands being acquired will strengthen Lupin’s respiratory segment, the company said. It would help structure the new respiratory franchise in Germany following the launch of Luforbec; the launch of Gx Spiriva and the acquisition of Xopenex and Brovana in the United States, it added.
The transaction will require approval from the Foreign Direct Investment Bureau of Canada, Lupin said, adding that the acquisition was expected to be completed by the first quarter 2024.