Lupin eyeing acquisition route for future expansion

Drug firm Lupin today said it is looking at acquisitions mainly in Latin America as it intends taking both organic and inorganic routes for future growth of the company.
 

"We are open to both organic and inorganic routes for expansion. We are looking for acquisitions preferably in Latin America," Lupin President Finance & Planning Ramesh Swaminathan told PTI.

The markets of choice for the company for such an expansion are Brazil, Mexico, Argentina and Chile.

When asked how the company plans to raise financials for the acquisitions, Swaminathan said: "The money will be raised through internal accruals. We might also look at debt."

It is not the first time Lupin is considering acquisitions. The pharma major has a history of acquiring firms that suit its business plans, last being acquisition of Japan's speciality injectables company I'rom Pharmaceutical Co in 2011.

Apart from the acquisitions of the firms, the Mumbai-based company is also targeting acquiring brands in key therapeutic areas. It is in talks with several companies in the US for the purpose.

The company's primary focus is on acquiring brands in the paediatrics, cardiovascular and dermatology therapeutic areas, Lupin had said earlier.

Lupin had posted net sales of Rs 9,461.6 crore for the financial year ended March 31 2013. It had posted net profit of Rs 1,314.2 crore during the same fiscal.