India-based drugmaker Lupin has acquired 100% equity interest in Russian generic pharmaceutical firm ZAO Biocom, allowing it to expand the operations in Russian pharmaceutical market.
The deal’s terms have not yet been disclosed.
Lupin CEO Vinita Gupta said: "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."
Founded in 1991, Biocom produces therapies for the cardiovascular and central nervous systems, as well as antimicrobials for systemic use. The company is also involved in the contract manufacturing and secondary packaging.
It operates a modern European GMP compliant plant and is claimed to be one of the first Russian pharmaceutical manufacturing firms to secure an approved manufacturer status from the World Health Organisation (WHO) in 2013.
See Also:
With around 118 employees, Biocom reported sales of around Rs861.2m ($15.3m) in 2014.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBiocom executive officer Aleksandr Sergeyev said: "Having found, built and developed Biocom together with Igor Rudinskiy for so long, I firmly believe that the future and growth of Biocom would be best handled by the management and technology expertise that Lupin brings to table."
In May this year, Lupin acquired 100% equity interest in Brazilian pharmaceutical firm MedquÃmica Indústria Farmacêutica.
Lupin develops and markets different branded and generic formulations, as well as biotechnology products and active pharmaceutical ingredients (APIs).
The firm’s products are used in applications, including cardiovascular, diabetology, asthma, paediatric, central nervous system (CNS), and anti-infective.