Temmler has a portfolio of 13 specialty products including therapies for central nervous system disorders and drugs that address rare diseases
Mumbai-based drug maker Lupin Ltd has entered into an asset purchase agreement with German company Temmler Pharma GMBH and CO. KG to acquire its specialty product portfolio, Lupin said on Friday. Financial details of the transaction were not disclosed.
Temmler, part of the global contract manufacturing company Aenova Group, has a portfolio of 13 specialty products including therapies for central nervous system (CNS) disorders and drugs that address rare diseases like Myasthenia Gravis and Huntington disease, which is a type of dementia.
“We are very pleased to add to our specialty business with this acquisition. Temmler’s business has a strong strategic fit with Lupin’s Hormosan business in Germany and enables Lupin to bring an enhanced specialty CNS portfolio to the German market," said Vinita Gupta, chief executive officer of Lupin.
On Thursday, Lupin announced the largest overseas acquisition by an Indian pharma company, buying US generic drug maker Gavis Pharmaceuticals Llc for $880 million.
This is Lupin’s fourth overseas acquisition in 2015. On 2 July, it announced the purchase of Russian company Biocom for an undisclosed amount. In May, Lupin entered the Brazilian pharmaceuticals market by acquiring Medquimica Industria Farmaceutica S.A. Brazil (Medquimica) for an undisclosed price.
Lupin strengthened its position in the Latin American market last year with its acquisition of Laboratories Grin SA in Mexico. Laboratorios Grin is the fourth largest pharmaceutical company in Mexico in the eye care segment, with sales of $28 million in 2013.
On Friday, shares of Lupin closed at ₹ 1,672, down by 3.27% on BSE, while the Sensex fell 0.91% to 28,112.31 points.
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