Mumbai: Drug maker Lupin Ltd today said it has acquired the pharmaceutical business of Rubamin group, for an undisclosed amount.
The company acquired Rubamin Laboratories Ltd (RLL), the subsidiary of the Rubamin group engaged in manufacture of advanced intermediates for Active Pharmaceutical Ingredients (APIs) under Contract Research and Manufacturing (CRAMS) model, Lupin said informed the Bombay Stock Exchange.
“The acquisition will enable us to step up our strategic initiative in the CRAMS segment,” Lupin chairman Desh Bandhu Gupta said.
Rubamin group is a research driven organisation based in India.
Shares in the company were last trading unchanged at Rs580 on BSE.