Lupin takes "more shots at the goal" with $880m US buy
This article was originally published in Scrip
Lupin has snapped up the privately owned niche firm Gavis Pharmaceuticals LLC and Novel Laboratories for $880m, marking India's largest pharma buyout in the US in recent times.
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CFOs are known for talking about their top and bottom lines, but not so much about what makes them tick. Here we give you a peek into the life story of Lupin CFO Ramesh Swaminathan, who shares with Scrip why he made the shift from Henkel in Germany to the Indian firm, M&A learnings, admiration for peer Sun Pharma and his own career ambitions.
Lupin reported a strong set of numbers for the first quarter ended June and expects US sales of its generic version of Glumetza (metformin HCL extended-release tablets) to stay a key contributor despite imminent competition from Sun Pharma, among others. The Indian firm, though, appears to be re-evaluating its Russian acquisition.
Lupin Ltd. has reported stellar numbers for the fourth quarter ended March 2016, buoyed by US sales of its generic version of Glumetza (metformin HCL extended-release tablets), the Valeant Pharmaceuticals International Inc. drug dumped earlier this year by pharmacy benefits manager, Express Scripts Holding Co.