Lupin buys Russian firm ZAO Biocom

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Mumbai | Published: July 3, 2015 1:02:59 AM

Pharmaceutical company Lupin announced the acquisition of 100% equity stake in ZAO Biocom in Russia for an undisclosed amount.

Pharmaceutical company Lupin announced the acquisition of 100% equity stake in ZAO Biocom in Russia for an undisclosed amount. The acquisition marks Lupin’s foray into Russia’s pharmaceutical sector that recorded RUB 765 billion in sales.

“Russia is an attractive market and this acquisition will also enable our expansion into neighbouring markets as well as other Eastern European markets in the future,”Vinita Gupta, chief executive of Lupin said. The acquisition is expected to enhance Lupin’s global research capability, technology, manufacturing,, commercial expertise and product pipeline.

Biocom is a generic pharmaceutical company with focus on therapy segments like cardiovascular, central nervous system, and antimicrobials for systemic use and also does contract manufacturing and secondary packaging. It recorded sales of RUB 861.2 million in FY 2014.

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