Lupin Ltd, an innovation led transnational pharmaceutical company has completed the acquisition of a majority stake in Pharma Dynamics (PD) in South Africa. PD ranks number 6 amongst generic companies and is growing at 34 per cent per annum as per IMS. The South African is estimated at $ 2.5 billion.
In the current year PD will launch at least 12 new products(one each month) much higher than the industry standards of about 4 new products per year.The backward integration capabilities of Lupin will assist with patent issues, regular and reliable supplies and overall process control.
Pharma dynamics MD, Paul Andley said that the partnership will be of considerable benefit to PD’s position in the generics industry locally. “The equity acquisition by Lupin gives us increased access to international research and development which will further strengthen our local position,” he said.
For the financial year ended March 2008, Lupin’s revenues and PAT were Rs 2773 crores and Rs 408 crores respectively.
