Lupin Ltd has informed the stock exchanges that its wholly-owned subsidiary, Lupin Atlantis Holdings SA, Switzerland, has entered into an asset purchase agreement with Sanofi, a French multinational pharmaceutical and healthcare company, to acquire a portfolio of products in Europe and Canada for a purchase consideration of ₹91 crore and sales up to ₹72.8 crore.
As per regulatory filing, the proposed transaction brings accretive assets in the respiratory field, helping structure the company’s new respiratory franchise in Germany, including the launch of Gx SPIRIVA and the acquisition of XOPENEX and BROVANA in the US.
The acquisition is scheduled to be completed in the first quarter of 2024.
The transaction will require the approval of the Foreign Direct Investment Bureau of Canada, the company said in its stock exchange filing.
Lupin stock rose by 0.64 per cent on the NSE, trading at ₹1,264.80 as of 1:02 pm on Friday.