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Pharma | Lupin buys Philippines drug firm Multicare

Pharma | Lupin buys Philippines drug firm Multicare
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First Published: Thu, Mar 26 2009. 11 20 PM IST
Updated: Thu, Mar 26 2009. 11 20 PM IST
Mumbai: Drug maker Lupin Ltd said on Thursday that it has acquired Multicare Pharmaceuticals Philippines Inc. for an undisclosed sum.
Multicare, which had sales of 272 million Philippine peso ($5.6 million or Rs28 crore) in 2008, is a generic or off-patent drug maker focused on the woman and child health segment in the local market.
The acquisition offers Lupin an entry into this $2.5 billion market, which is currently dominated by multinational drug makers.
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First Published: Thu, Mar 26 2009. 11 20 PM IST