Lupin to buy eye treatment drugmaker in Mexico

Tags: Lupin, Companies
Lupin, India's No. 4 drugmaker by revenue, said on Thursday it has agreed to buy eye-treatments maker Laboratorios Grin S.A. De C.V for an undisclosed amount, moving into Mexico's $275 million ophthalmic market.

Grin, which makes branded generic drugs and had full-year 2013 revenues of $28 million, is the fourth largest player in Mexico's ophthalmic segment, according to Lupin.

The acquisition marks Lupin's entry into Latin America, a market the company has previously said it expects will contribute a large part to its future growth.

Grin is Lupin's second acquisition this year.

In February, the company said it bought Netherlands-based Nanomi BV, which has technology to develop complex injectable products - a space many Indian generic drugmakers have increased focus on.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • It’s another challenging year for a govt that’s missed 20 of 24 targets

    The government has set an ambitious target for money to be raised through sale of public sector company shares.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

BK Chaturvedi

Corruption law calls for correction

In any country, it is its laws against corruption that ...

Kuruvilla Pandikattu SJ

Believers of the world set to rise

The world is set to become more religious as the ...

Gautam Gupta

The changing face of the fashion world

Indian fashion industry, like every fashion industry in the world, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture