Pharma major Lupin today said it has acquired Germany-based sales and marketing firm Hormosan Pharma for an undisclosed amount.
"This is in line with our M&A strategy to harness the potential of the leading global pharma markets. This is our first acquisition in the important European market," Lupin Chairman Deshbandhu Gupta said.
Hormosan, with a sales figure of 6.8 million euro for the year ended December 2007, develops, licences and markets a range of generics in Germany and specialises in the supply of pharmaceutical products for the central nervous system.
Lupin would be able to add significant value through its strengths in research and development and strong complementary pipeline leading to major synergies and growth, Gupta added.
Shares of the company were trading at Rs 737, up 2.52 per cent on the BSE in afternoon trade.
