New Delhi: Drug major Lupin said it has completed the acquisition of privately held US-based GAVIS Pharmaceuticals LLC and Novel Laboratories (GAVIS).
Lupin had announced the acquisition on July 23, 2015.
The acquisition enhances the company’s scale in the US generic market and also broadens its pipeline in dermatology, controlled substance products and other high-value and niche generics, Lupin said in a statement.
Lupin CEO Vinita Gupta said: “The GAVIS portfolio augments our US business and niche generic pipeline. We plan to leverage the formulation expertise of Gavis to enhance both Lupin’s generic as well as specialty pipeline.”
GAVIS brings to Lupin a highly skilled US-based manufacturing and research organisation which would complement its Florida-based R&D centre for inhalation products.
GAVIS’ New-Jersey based manufacturing facility will become Lupin’s first manufacturing site in the US.
GAVIS is a privately held company, specialising in formulation development, manufacturing, packaging, sales, marketing and distribution of pharmaceutical products.
It has 62 abbreviated new drug application (ANDA) filings pending approval with the US FDA and a pipeline of over 65 plus products under development GAVIS’ pending approvals address a market of over $9 billion.
The combined company will have a portfolio of over 120 in-market products, more than 185 cumulative filings pending approval and a deep pipeline of products under development for the US.
The acquisition creates the 5th largest pipeline of ANDA filings with US FDA, catering to a $63.8-billion market.
Lupin shares were trading 0.33 per cent up at Rs 1,822.75 during the afternoon session on BSE.