)
Lupin, the fourth largest Indian drug maker, is entering into a partnership with Merck Serono, the biopharmaceutical division of German company Merck KGaA.
Lupin will develop products, provide product dossiers and supply finished products to Merck Serono. The latter will be the marketing authorisation holder for the products. The company says this deal could add up to 20 new products to the current portfolio. The first launches are expected in 2016, it added.
The partnership covers major markets such as Brazil, Mexico, Indonesia, Philippines, countries in Africa and central eastern Europe, with a focus on cardiovascular and diabetes diseases. Last week, Lupin had entered into a partnership with US-based Salix Pharma for entry into the Canadian market.
On Tuesday morning, Lupin shares hit a record high of Rs 1,422 on the BSE. The stock gained 4.6 per cent intra-day. Following the announcement, it went down by 3.7 per cent, to close at Rs 1,362.6.
Sales in emerging markets are a key growth driver for Merck Serono, amounting to close to euro 1.8 billion in 2013.
Elcin Ergun, head of global commercial at Merck Serono said, “The agreement with Lupin is an exciting new approach for Merck Serono to address local health needs in fast-growing regions with constantly increasing demand for high quality medicines from trusted companies like Merck Serono and Lupin.” Sales in the emerging market regions are one of the key growth drivers for Merck Serono amounting to close to euro 1.8 billion in 2013.
