INDIA BUSINESS WORLD - August 1st - August 31st - 2008
LUPIN ACQUIRES GERMAN GENERIC DRUGMAKER HORMOSAN
Indian pharma firm Lupin has acquired German generics drugmaker Hormosan for an undisclosed sum. The deal will help Lupin access Europe's biggest generic market. The generic drug market in Germany is valued at $14 billion while the country’s entire pharma market is worth $45 billion. For foreign manufacturers of generic drugs, Germany has been hard to crack, thanks to its complex regulatory system. However, late last year the German government opened the doors to generic firms to manufacture and market generic drugs. Though the Lupin management was reluctant to divulge the exact size of the deal, they said that the deal size is less than what the company paid to acquire Kyowa Pharma in Japan last year. Industry sources said that Lupin's German deal will be between $15 and $20 million. Hormosan has total sales of € 6.8 million (Rs 45 crore) for the year ended December 2007.
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