MUMBAI:Pharma firm Lupin Ltd has embarked on an overseas acquisition spree. The country’s third largest drug maker by sales announced its second acquisition in two days and fifth in two years, acquiring Germany-based Temmler Pharma’s specialty product portfolio for an undisclosed sum. The move comes just a day after Lupin pulled off its biggest acquisition - Gavis for $880 million.
The company has entered into a strategic asset purchase agreement with Temmler, part of the Aenova Group, one of the world’s largest pharmaceutical contract manufacturers.
“Temmler’s business has a strong strategic fit with Lupin’s Hormosan business in Germany and enables Lupin to bring an enhanced specialty CNS portfolio to the German market,” said Vinita Gupta, Chief Executive Officer, Lupin.
This will be Lupin’s third acquisition in two years. Last year, it had acquired Laboratories Grin SA, Mexico’s fourth largest drugmaker.