Lupin signs deed for acquisition of two brands in Germany

Lupin announced that the company has entered into deed of assignment with Boehringer Ingelheim International GmbH for the acquisition of brands Ondero and Ondero Met, including trademark rights associated with the brands.

The brands Ondero and Ondero Met are related to medicines for the diabetic segment. The pharma major said that this will enable the company to provide comprehensive treatment options for diabetes management.

The cost of acquisition of these brands stood at Rs Euro 26 million and the indicative time period for acquisition is expected to be completed by the end of August 2023.

Boehringer Ingelheim International GmbH is a company incorporated under the laws of Germany. It is engaged in the pharmaceutical industry.

Meanwhile, Lupin announced that it has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Formoterol Fumarate inhalation solution, to market a generic equivalent of Perforomist inhalation solution.

According to IQVIA, in June 2022 Formoterol Fumarate inhalation solution had estimated annual sales of $282 million in the United States.

Formoterol fumarate inhalation solution is a long-acting beta adrenergic agonist (LABA) used to control the symptoms of chronic lung disease that includes chronic bronchitis, emphysema, or both.

Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.

The drug maker reported a net loss of Rs 89.1 crore in Q1 FY23 as against a net profit of Rs 542.5 crore in Q1 FY22. Total revenue from operations declined 12.3% YoY to Rs 3,743.8 crore during the quarter.

Shares of Lupin declined 1.12% to Rs 670.05 on the BSE.

Powered by Capital Market - Live News