Lupin acquires minority stake in Australian firm

Lupin has acquired a minority stake in Melbourne-based Generic Health Pty, Australian generic pharma entity, to enhance market penetration. Indian pharma company did not disclose further detail including value of transaction.

Lupin has already filed 16 dossiers of generic products with a total market size of about A$ 850 million. Out of this, it has received approval for 14 products.

The size of generic business including branded generics is A$ 3 billion. “The investment in Generic Health reflects our commitment to expand our business in Australia” Lupin’s president Vinod Dhawan said in a statement.

The new investment arrangement with Lupin will greatly contribute to our long term market share ambitions. Lupin’s equity investment will not result in any change in day-to-day management operations of Generic health, its managing director Gavin Upiter said. 

Generic Health plans to become significant player in the Australian generic pharma industry as is evident from its acquisition of Bellwether Pharma and strategic alliance with Actavis.