Lupin gains after Brazilian arm acquires rights of nine brands of Bausch Health

Lupin rose 2.75% to Rs 753.90 after the global pharma major announced that its wholly owned Brazilian subsidiary, MedQuimica, has acquired rights to nine brands from Bausch Health.

Lupin's wholly-owned subsidiary in Brazil, MedQuica Indtria Farmactica (MedQuica), has signed a definitive agreement to acquire all rights to nine medicines from BL Indtria ica, a subsidiary of Bausch Health Companies Inc.

As part of the transaction, MedQuica will acquire rights to nine products including Limbitrol, Melleril and Dalmadorm for Central Nervous System related conditions, Bacrocin, Glyquin, Solaquin, Oxipelle and Efurix as topical oncological treatments, and Cuprimine for the treatment of Wilson's disease.

"The acquired brands are well established and recognized among doctors and other members of the medical fraternity in Brazil for their reliability, safety, and trustworthiness," said Alexandre Franca, managing director, MedQuica. "This transaction enhances our product portfolio in Brazil and strengthens our position in the prescription market."

MedQuica Pharmaceutical Industries, with its factory located in the Industrial District of Juiz de Fora, has been operating for 47 years. In 2015 it became part of the Lupin Group, a global pharmaceutical company, and the fifth largest generics company in the United States by prescriptions and eighth largest company for generic medicine in the world. In Brazil, Medquica develops an extensive line of both solid and liquid medicines classified into five lines: OTC (Over the counter medicines), branded generics, hospital, generics and food supplements.

Lupin is an innovation led Transnational Pharmaceutical Company producing, developing and marketing a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

The company reported consolidated net profit of Rs 129.73 crore in Q2 FY23 as against net loss of Rs 2098.04 crore in Q2 FY22. Net sales jumped 2.2% to Rs 4091.16 crore in Q2 FY23 as compared to Rs4003.42 crore in Q2 FY22.

Powered by Capital Market - Live News