Lupin buys Symbiomix Therapeutics for $150 mn to boost women's health biz

US market contributes around 45% of Lupin's revenue and this is the drug maker's second big acquisition in US in the last 15 months

Drug maker Lupin has acquired US-based Symbiomix Therapeutics for $150 million (around ~975 core) to grow it’s women’s health business. 

The US market contributes around 45 per cent of Lupin’s revenue. The drug maker has been scouting for specialty drugs in women’s health and neurology segments in the US in view of the price erosion of generic drugs. Last month, it hired industry veteran Jim Loerop to drive its mergers and acquisition strategy. 

This is Lupin’s second big acquisition in the US in the past 15 months, following the $880-million purchase of Gavis.

Lupin said the acquisition was made for a cash consideration