Lupin Limited has acquired a 100 % equity stake in Medquimica Industria Farmaceutica S.A., Brazil, (Medquimica) subject to certain closing conditions. The acquisition marks Lupin’s foray into the Brazilian market and also shores up its position in the Latin American pharmaceuticals market following the acquisition of Laboratorios Grin in Mexico last fiscal year.

Incorporated in 1975, Medquimica is a broad-based pharmaceutical company engaged in the development, manufacturing, and commercialization of branded generics, pure generics, and over-the-counter products. Medquimica is positioned in the Brazilian branded generics market and a trusted brand with a distribution channel in Brazil. Medquimica recorded net revenues of approximately BRL 94 million ($31 million) in calendar year 2014 and has over 550 employees.

Source: Lupin