Takeda Pharmaceutical Co. Ltd. (TKDG.DE) in Talks to Buy Cipla Ltd., Lupin Ltd. (LUPN.BO) Drug Business; Companies Deny Rumor
8/24/2011 7:11:43 AM
In a bid to broaden its global reach, Takeda Pharmaceuticals is holding talks with two of India’s biggest drugmakers - Cipla and Lupin - both of which are large providers of generic meds, according to reports. The move underscores the ongoing desire among brand-name drugmakers to gain market share in the large Indian market as well as expand their product portfolios. Takeda, which earlier this year bought Nycomed for $13.6 billion, is talking to Lupin about buying its domestic formulations business and research facility, according to The Economic Times, although Lupin apparently wants a price that would amount to 17 times revenue, which last year reached $1.5 billion. The Japanese drugmaker has also approached Cipla, but talks were described as preliminary.