- February 2, 2018
- Posted by: nitin
- Category: Feed
Indian Drug manufacturer Lupin on Wednesday said it has forayed into the Brazilian market through its acquisition of 100% equity stake in Medquímica Indústria Farmacêutica S.A., Brazil, (Medquímica). The size of the deal is estimated at around $100 million (about Rs 640 crore), according to industry experts. However, the deal is subject to certain closing condition, the company said in a release. “The acquisition marks Lupin’s foray into the high growth Brazilian market and would also shore up its position in the Latin American pharmaceuticals market given the company’s acquisition of Laboratorios Grin in Mexico last fiscal,” it said.
Brazil’s pharmaceutical market has nearly doubled in size from 2009-2013, expanding at a CAGR of 17%, driven by growing public health expenditure and increasing household income.