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Lupin Acquires US Biotech Symbiomix Therapeutics for USD 150m
Thursday 12 October 2017

12 October 2017 - US-based pharmaceutical company Lupin, Inc. has acquired New Jersey, US-based biotechnology firm Symbiomix Therapeutics, LLC for USD 150m, the company said.

Lupin, Inc. is a US subsidiary of India-based pharma major Lupin.

The acquisition has been made for a cash consideration of USD 150m including a USD 50m upfront and other time-based payments. In addition, there are sales based contingent payments. The acquisition is funded from internal funds.

The acquisition of Symbiomix and the Solosec franchise expands Lupin's branded women's health specialty business, which is presently anchored by Methergine (methylergonovine) tablets.

On September 15, 2017, the US FDA approved Symbiomix's lead product, Solosec (secnidazole) oral granules, for the treatment of bacterial vaginosis in adult women. Lupin expects Solosec to be commercially available by mid-2018.

Solosec has been designated as a qualified infectious disease product by the US Food and Drug Administration for the treatment of BV.

Lupin said completing the acquisition of Symbiomix and its Solosec brand expands Lupin's US women's health specialty business into the highly-complementary gynecological infection sector.

This transaction is a milestone in the evolution of the company's specialty business and gives Lupin a new therapeutic to bring to obstetricians and gynecologists to treat a serious health condition they see frequently in their practices.

Symbiomix Therapeutics, LLC is backed by three of the world's healthcare venture capital firms: OrbiMed, F-Prime Capital Partners, and HBM Partners. The company is focussed on bringing therapies to market for gynecologic infections that can have serious health consequences.

Lupin Ltd. develops and delivers a range of branded and generic formulations, biotechnology products and APIs globally. The company is a player in the cardiovascular, diabetology, asthma, pediatric, cns, gi, anti-infective and NSAID space. Lupin's consolidated sales and net profit stood at INR 171,198m (USD 2.55bn) and INR 25,575m (USD 381m) respectively.
Date Published: 12/10/2017
Target: Symbiomix Therapeutics
Country: USA
Deal Size: 150m (USD)
Sector: Biotechnology
Type: Corporate acquisition
Financing: Cash
Status: Closed
Buyer: Lupin, Inc