Lupin Ltd. Plans to Acquire US Brands
Lupin Ltd. (LPC), the world’s biggest maker of drugs to treat tuberculosis, plans to acquire brands in the U.S. to reduce its reliance on less profitable generic medicines, President Nilesh Gupta said. The Indian drugmaker founded by billionaire Desh Bandhu Gupta may purchase branded drugs to treat skin diseases and infections, the president said. The company hasn’t identified any acquisition yet, Gupta, son of the founder, said. Lupin is seeking to maintain its fastest pace of quarterly sales growth in at least three years by adding to its product portfolio in the world’s biggest drug market. The company, named after a leguminous flower, and rivals including Ranbaxy Laboratories Ltd. (RBXY) are shifting strategy to cut their dependence on selling generic versions of medicines as the number of formulations losing patent protection plummets from their peak in 2012.