Lupin enters Russia with Biocom acquisition

New Delhi: Indian Pharmaceutical major Lupin has acquired JSC Biocom, thus entering the Russian market, estimated to be one of the largest drug market globally. Biocom is a generic drug maker and one of the first Russian pharmaceutical companies to receive an approved manufacturer status from World Health Organization (WHO) in 2013. Last year, Lupin acquired Laboratories Grin SA in Mexico, the fourth largest drug maker in the country, in the eye care segment with sales of US$28 million in 2013, while in May 2015, it acquired Medquimica Industria Farmaceutica SA thereby entering into Brazilian market. According to Vinita Gupta, Chief Executive Officer of Lupin, the Biocom acquisition will enable the company to expand into Russia’s neighbouring markets as well as other eastern European markets in the future.

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