The Economic Times daily newspaper is available online now.

    Lupin rises over 3% as Brazil subsidiary acquires 9 brands from Bausch Health

    Synopsis

    The acquired brands are well established and recognized among doctors and other members of the medical fraternity in Brazil for their reliability, safety, and trustworthiness,” said Alexandre Franca, Managing Director, MedQuímica.

    Lupin rises over 3% as Brazil subsidiary acquires 9 brands from Bausch HealthAgencies
    Representative Image
    Shares of drug maker Lupin rose over 3% to Rs 759 in Tuesday’s intraday trade on BSE after the company said that its Brazil-based unit has inked a pact to acquire rights to nine medicines from a subsidiary of Bausch Health Companies Inc.

    “We are pleased to inform you that MedQuímica Indústria Farmacêutica, Brazil, wholly owned subsidiary of the company, has signed definitive agreement to acquire all rights to nine medicines from BL Indústria Ótica Ltda., a subsidiary of Bausch Health Companies Inc.,” Lupin said in a BSE filing.

    As part of the transaction, MedQuímica will acquire rights to nine products including Limbitrol, Melleril and Dalmadorm for the central nervous system related conditions, Bacrocin, Glyquin, Solaquin, Oxipelle and Efurix for topical oncological treatments, and Cuprimine for the treatment of Wilson’s disease. “This move reinforces our commitment to making healthcare solutions accessible to all patients,” Lupin said.

    “The acquired brands are well established and recognized among doctors and other members of the medical fraternity in Brazil for their reliability, safety, and trustworthiness,” said Alexandre Franca, Managing Director, MedQuímica. “This transaction enhances our product portfolio in Brazil and strengthens our position in the prescription market,” he added.

    At 10.31 am, the scrip was trading 2.5% higher at Rs 752 over its previous day’s closing price of Rs 733.7 per share. The stock has risen nearly 22% in the last six months, while it has fallen about 20% year-to-date.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in