Lupin eyes foreign acquisitions

The Rs 16,000-crore pharma major Lupin is looking for acquisitions in emerging markets like South Africa, Turkey and Philippines.

The Rs 16,000-crore pharma major Lupin is looking for acquisitions in emerging markets like South Africa, Turkey and Philippines.

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The company, now the eighth-largest generic drug maker by revenue in the US, is planning to grow inorganically. “We are indeed actively considering several of these proposals,” said Ramesh Swaminathan, president (finance & planning), Lupin.

Lupin may also use its subsidiaries for acquisition. It bought Kyowa Pharmaceutical in Japan in 2007, Pharma Dynamics in South Africa and Hormosan Pharma in Germany in 2008 and a majority stake in Multicare Pharmaceuticals of Philippines in 2009.