Lupin on acquisition spree, inks deal with Russian pharma firm Biocom
Pharma major Lupin has announced the acquisition of Russian pharmaceutical company Biocom for an undisclosed amount. By acquiring 100% stake in Biocom, the Mumbai-based firm has entered the Russian market, which according to IMS sales data, is all set to become one of the top eight pharmaceutical markets by 2018. Biocom recorded sales of 861.2 million Russian rouble, or about Rs 98.2 crore, in financial year 2014. It has 118 employees.
Earlier in May, Lupin had announced the acquisition of Brazil's Medquimica, marking its entry into the high growth Latin American nation. Lupin is also looking at strengthening its branded portfolio by creating alliances and eyeing strategic brand acquisitions in US markets in 2015-16. The United States is Lupin's largest market and contributed 45 per cent of the company's revenues in 2014-15.
"In 2015-16, the company remains committed to continuing to strengthen its branded portfolio with the launch of additional products by not only creating alliances but also developing its own pipeline and making strategic brand acquisitions in US markets," Lupin said in its annual report.
"Going forward, meaningful acquisitions are going to be vital to our growth strategy and we are targeting geographies, complementary product portfolios and therapies that we feel are missing from our current portfolio. We are investing in people, processes, technology and systems. Over the coming years, we envision a new Lupin, replete with differentiated products and strong market presence, a complex generics and specialty pharmaceutical major. We are also committed to building a world-class, research driven, quality specialty and generics powerhouse," Lupin's managing director Nilesh Gupta said.
According to PTI, the US continues to be the principal growth engine for the company and its performance in the US over the last 10 years had been one of the most exciting growth stories in the pharmaceutical industry; that of the creation of a top 10 global generic powerhouse and an emerging specialty pharmaceutical player. The company's US subsidiary, Lupin Pharmaceuticals Inc (LPI) is recognised as a preferred supplier of quality generics into the US, servicing large US wholesale and retail channel partners.
Lupin is currently the 6th largest and the fastest growing among top 10 pharmaceutical corporations in the US with its market share growing from 4.3 per cent to 9 per cent. Its US revenues grew by 12 per cent to USD 891 million during 2014-15, up from USD 803 million in 2013-14.
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