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.

EDITORIAL OF THE DAY

  • Government must wake up to the woes of electricity generators

    India is not staring at a power crisis yet, but an estimated 46,000 mw of power capacities are at risk today.

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

Arun Nigavekar

Moocs will not replace traditional education

I am revisiting the topic of massive open online course ...

Zehra Naqvi

Minimalism: declutter your life

When you imagine an ideal place to live, you think ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture