 "Lupin completes $880-mn Gavis purchase")
US business is 45 per cent of Lupin’s revenue and the deal will enhance its product pipeline in dermatology, controlled substances and high-value speciality products.
Gavis has 62 Abbreviated New Drug Applications (ANDAs) pending approval with the US Food and Drug Administration (FDA), beside 65 products under development. Lupin also gets access to Gavis' manufacturing facility in New Jersey, its first in that country.
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Gavis had revenue of $98 mn in 2014 and is expected to clock $120 mn in 2015. “Gavis has launched a number of products and received multiple approvals. We expect our US business to grow in double digits in FY17,” Lupin’s chief executive officer, Vinita Gupta, had told this paper in an earlier interaction.
“We plan to leverage the formulation expertise of Gavis to enhance both Lupin’s generic and speciality pipeline,” she stated on Wednesday.
After acquisition, Lupin will have a portfolio of a little over 120 in-market products, 185 cumulative filings pending approval and a deep pipeline of products under development for the US. The acquisition creates the fifth largest pipeline of ANDA filings with the FDA, addressing a $63.8-bn market.