Lupin Q3 net profit jumps 42% to Rs 476.1 crore
Lupin announced that it had bought Nanomi B.V., a Dutch company for an undisclosed sum. With this acquisition, Lupin has made its foray into the technology-intensive injectables space.
Commenting on the acquisition Vinita Gupta, CEO, Lupin, said “With the use of Nanomi’s proprietary technology platform, Lupin will be able to make significant in-roads into the niche area of complex injectables”.
Meanwhile, the company reported a 42 per cent growth in its net profit for the third quarter of 2013-14 at Rs.476.1 crore on 21 per cent higher net sales of Rs.2,983 crore. The board of directors has approved an interim dividend of Rs.3 per share of the face value of Rs.2.