With acquisition of 100% equity stake in Biocom
Lupin announced the acquisition of 100% equity stake in ZAO Biocom in Russia subject to certain closing conditions. The acquisition marks Lupin's foray into the Russian pharmaceutical market which recorded RUB 765 billion in sales, placing it as one of the Top 10 pharmaceutical markets in the world in 2014 (IMS Health).Established in 1991, Biocom is a fast growing generic pharmaceutical company with a major focus on therapies such as cardiovascular, central nervous system and antimicrobials for systemic use and also does contract manufacturing and secondary packaging. The Company recorded sales of RUB 861.2 million in financial year 2014 and has 118 employees. Biocom operates a modern European GMP compliant plant and was also one of the first Russian pharmaceutical manufacturing companies to receive an approved manufacturer status from the World Health Organization (WHO) in 2013.
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