Generic Health, the Australia-based wholly owned subsidiary of Lupin Ltd., said it has entered into a definitive agreement to acquire 100% shares of Southern Cross Pharma Pty. Ltd. (SCP) for an unspecified amount.
As a part of the transaction, Generic Health will gain access to over 60 registered products having sales of more than AUD 30 million (approximately $22 million).
“This will significantly increase Lupin’s value proposition and market share in the Australian market,” Lupin said in a statement.
“This is an important acquisition for our Australian entity and is aligned with our strategy to expand and deepen our presence in select markets of focus,” said Nilesh Gupta, MD, Lupin.
“The Southern Cross Pharma portfolio builds on our existing portfolio of prescription generics, over- the-counter and speciality range of products. This investment significantly increases our scale in Australia and reinforces our commitment to patients in Australia.”
