Mumbai-based pharmaceutical company Lupin has announced its strategic move to acquire two established brands from the French firm Sanofi Pharmaceuticals. The acquisition is a part of Lupin's ambitious plans to broaden its market footprint, particularly in Europe and Canada.

The completion of the acquisition is anticipated in the first quarter of 2024. The purchase consideration for the brand portfolios is set at Rs 910 million or Rs 91 crore (EUR 10 million), with an additional contingent amount of up to Rs 72.8 crore based on future sales milestones.

Following a disclosure filed on the BSE (Bombay Stock Exchange), Lupin Atlantis Holdings SA Switzerland (LAHSA), wholly-owned subsidiary of Lupin, has entered into an asset purchase agreement to acquire a portfolio of accretive established products. The identified brands are AARANE™ in Germany and NALCROM™ in Canada and the Netherlands. The revenue generated from the target products in relevant markets in FY23 is $6.494 million (Rs 53.7 crore).

The acquisition aims to introduce accretive assets in the respiratory field, contributing to the development of Lupin's new respiratory franchise in Europe and Canada. This comes on the heels of the company’s successful launch of LUFORBEC™ in Germany, the introduction of Gx SPIRIVA™, and Lupin's acquisition of XOPENEX™ and BROVANA™ in the United States.