Lupin acquires 60 pc stakes in South African company

Mumbai, Sep 18 (UNI) Pharma major Lupin Limited today announced that it has acquired 60 per cent stakes in South Africa-based Pharma Dynamics (PD), a marketing company, to become one of the top pharmaceutical companies at the global level.

Addressing the mediapersons here, the company's chairman Dr Desh Bandhu Gupta said ''The company has acquired 60 per cent of Pharma Dynamics, one of the marketing leaders in South Africa, and we have plans to increase the acquisition in future too.'' He said ''We are extremely excited with this entry into this significant geography. With the synergies of the two companies, we expect to be in the top league in the South African market very soon.'' This year, PD will launch at least 12 new products, that is one each month, which is much higher than the industry standards of about four new products per year. The pipeline of new products will drive growth and PD has the most extensive pipeline of new products in the country due to a network of strong, alliances with international manufacturers, he said.

Mr Gupta said during the last 12 months, the company had acquired five companies -- one in India and four abroad.

In the first quarter of financial year, the company had achieved a growth of 43 per cent, and they have set the target of around 40 per cent for the overall growth in current fiscal as compared to 34 per cent the previous year.

The company has increased its investments in research and development (R&D) department. This year, it will be investing Rs 250 crore in R&D, he added.

UNI ST SSS VKG1504