Indian drugmaker Lupin has signed an agreement to acquire US-based Gavis Pharmaceuticals and Novel Laboratories (Gavis) for around $880m.
The acquired business will expand Lupin’s presence in the US generic market, in addition to expanding its portfolio in dermatology, controlled substance products and other niche generics.
Lupin CEO Vinita Gupta said: "Gavis has a strong track record of delivering highly differentiated products in a short time and is poised for continued strong growth as it delivers on its existing pipeline.
Based in New Jersey, Gavis is involved in formulation development, manufacturing, packaging, sales, marketing, and distribution of pharmaceuticals products.
Currently, the firm has 66 ANDA filings pending approval with the US FDA, as well as pipeline of around 65 niche dosage forms. The company has also filed 25 Para IVs and eight FTFs products.
According to Lupin, Gavis’ pending filings are expected to have a market value of around $9bn and the combination will include a portfolio of 101 in-market products, 164 cumulative filings pending approval and a pipeline of products under development for the US.
Lupin will also acquire Gavis manufacturing facility, which will support its inhalation R&D centre in Coral Springs of Florida.
Gavis founder and CEO Dr Veerappan Subramanian said: "This is a time of globalisation for the specialty pharmaceutical industry and Gavis is well-positioned to capitalise on this exciting opportunity."
Lupin develops and markets different branded and generic formulations, as well as biotechnology products and active pharmaceutical ingredients (APIs).
Its products are used in applications, including cardiovascular, diabetology, asthma, paediatric, central nervous system (CNS), and anti-infective.