Lupin shelves plan to acquire 51 pc equity in Belgium firm

Mumbai, Sep 30 (UNI) Pharma major Lupin has decided to drop its plans of acquiring 51 per cent equity in Artifex Finance CVA of Belgium -- along with its subsidiaries, including Dafra Pharma.

A Lupin release here today said it had in May this year had signed a Memorandum of Understanding (MoU) to acquire 51 per cent equity.

Based on subsequent discussions, both the parties have now mutually agreed not to pursue the said MoU and to independently pursue their respective business plans and continue discussions for possible areas of cooperation in the future.

''Lupin continues to be interested in anti-Malarials,'' said Dr Kamal K Sharma, Managing Director, of the company.

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