New Delhi: Drug maker Lupin on Wednesday said it has acquired the worldwide rights for Australian brand Goanna from Aspen Pharmacare Holdings for an undisclosed amount.
The company said the acquisition has been carried out by its Australian arm, Generic Health Pty Ltd under which it will get the rights to the entire range of products under the Goanna brand, including premium therapeutic oils, rubs and ointments.
Commenting on the acquisition, Lupin Ltd president Asia Africa Middle East and Latin America (AAMLA) and business development Vinod Dhawan said: “The Goanna acquisition demonstrates Lupin’s success in, and commitment to, building its brand franchise and equity globally”.
The company said its sales and marketing efforts will commence immediately since Goanna is an in-market commercial product.
“We are optimistic of it contributing positively to our topline in the coming years,” Dhawan said.
Founded in 1910, the Goanna brand has been used by generations of Australians to provide effective relief from muscular aches and pains and other conditions such as arthritis.
The company said it intends to add a number of brand extensions to the range that will further reinforce the position of the range of products in the Australian market.
“The brand is being sold by about 83% pharmacies in Australia, which would also go a long way in increasing our reach in the market,” Dhawan said.
On the integration after acquisition, Lupin said: “Generic Health has worked closely with Aspen Pharmacare to ensure a smooth transition of ownership for our customers and a seamless transition is already underway”.