Lupin to buy 21 generic brands from Japan’s Shionogi for $150m

An employee of Lupin Limited works at a reception at their headquarters in Mumbai November 22, 2013. REUTERS/Danish Siddiqui/Files

Lupin Ltd, India’s third largest drug maker, on Tuesday said it has agreed to buy a portfolio of 21 generic brands from Osaka-based Shionogi & Co. Ltd for $150 million, to strengthen its presence in the world’s second largest pharmaceutical market.

The acquisition will be effective from 1 December and is subject to certain closing conditions and regulatory approvals, including the transfer of marketing authorization of the products to Lupin’s Japanese subsidiary Kyowa Pharmaceutical Industry Co. Ltd.

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