Lupin Expands Global Presence with Acquisition of Sanofi's Established Pharmaceutical Products in Europe and Canada for EUR 10 Million

On Friday, Indian pharmaceutical company Lupin Ltd announced the acquisition of a portfolio of established products in Europe and Canada from Sanofi, a French multinational pharmaceutical and healthcare company. Lupin Atlantis Holdings SA, a wholly-owned subsidiary of Lupin Ltd based in Switzerland, signed an asset purchase agreement for this strategic move. The purchase consideration is EUR 10 million (Rs 91 crore), with additional sales milestones of up to EUR 8 million (Rs 72.8 crore), contingent upon future sales. The brands AARANE in Germany and NALCROM in Canada and the Netherlands are part of the acquisition. The turnover of these brands in these markets for the year ended March 31, 2023, was approximately USD 6.494 million (Rs 53.7 crore).

Lupin emphasized that the transaction is strategically significant, as it brings accretive assets in the respiratory field, supporting the company's efforts to establish a new respiratory franchise in Germany. This follows the recent launch of LUFORBEC in Germany, the introduction of Gx SPIRIVA, and the acquisition of XOPENEX and BROVANA in the United States.

The completion of the transaction is subject to approval from the Foreign Direct Investment Bureau of Canada and is expected to be finalized by the first quarter of 2024, according to Lupin.