For a cash consideration of USD 150 millionLupin announced that its US subsidiary, Lupin Inc. has acquired Symbiomix Therapeutics, LLC. Lupin had entered into an option the company earlier this year.
Symbiomix is a privately held company focused on bringing innovative therapies to market for gynecologic infections that can have serious health consequences.
The acquisition has been made for cash consideration of USD 150 million including a USD 50 million upfront and other time based payments. In addition, there are sales based contingent payment. The acquisition is funded from internal accruals. The transaction was closed on 11 October 2017.
The acquisition of Symbiomix and the Solosec franchise significantly expands Lupin's branded women's health specialty business, which is presently anchored by Methergine tablets.
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