Lupin Acquires Russian Generics CompanyBy
Lupin Limited has acquired a 100% equity stake in ZAO Biocom in Russia subject to certain closing conditions. The acquisition marks Lupin's foray into the Russian pharmaceutical market Established in 1991, Biocom is a generic pharmaceutical company with a major focus on therapies such as cardiovascular, central nervous system and antimicrobials for systemic use and also does contract manufacturing and secondary packaging.
Biocom recorded sales of RUB 861.2 million ($15 million) n financial year 2014 and has 118 employees. Biocom operates a European GMP compliant plant and also receive approved manufacturer status from the World Health Organization in 2013.