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Lupin's US arm takes over Symbiomix Therapeutics

Press Trust of India  |  New Delhi 

Drug major Lupin's US subsidiary has acquired Symbiomix Therapeutics for a total consideration of USD 150 million (nearly Rs 980 crore).

had entered into an arrangement to acquire the company earlier this year. The has been made for a consideration of USD 150 million, including USD 50 million upfront payment and other time-based ones, it said in a regulatory filing today.

In addition, there are sales-based contingent payments. The is funded from internal funds.

"The of Symbiomix and Solosec franchise significantly expands Lupin's branded women's health specialty business, which is presently anchored by Methergine tablets," the company added.

Last month, the US health regulator had approved Symbiomix's lead product Solosec oral granules for treatment of bacterial vaginosis (BV).

The stock was trading 0.43 per cent lower at Rs 1,056 on the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 11 2017. 11:57 IST