On Friday, 18 August, the Global pharma major Lupin Limited announced that it has acquired Ondero & Ondero – Met, a German brand from Boehringer Ingelheim International.

ONDERO (Linagliptin) and ONDERO MET (Linagliptin + Metformin) are considered to be the gold standard in diabetes management.

The pharma company has inked an acquisition agreement with Boehringer Ingelheim International to acquire the company through a cash consideration of €26 million.

Since 2015 Lupin has been marketing Ondero and Ondero – Met within the Indian market as a part of its comarketing agreement with Boehringer Ingelheim India.

Nilesh Gupta, Managing Director, Lupin said, “Lupin is at the forefront of providing quality pharmaceutical products to patients. With the acquisition of ONDERO and ONDERO MET, we continue to offer a wide portfolio of products to enable access to medication for patients, and further consolidate our position as a market leader in the anti-diabetes segment.”

According to the pharma major, there are more than 77 million people above the age of 18 years who have Type-2 Diabetes. In contrast, nearly 25 million people are at higher risk of developing Diabetes in the future.

Through this acquisition, Lupin will strengthen its commitment towards providing high-quality treatment options for patients who are trying to navigate the complexities of Diabetes.

Rajeev Sibal, President – of India Region Formulations, Lupin, said, “The disease burden of Diabetes is constantly increasing, fueled by the prevalence of obesity and unhealthy lifestyles. This important acquisition reflects our steadfast dedication to empowering healthcare professionals to combat the growing menace of Diabetes in India and significantly improve the lives of those facing this challenging disease.”

Lupin June Quarter Numbers

The global pharma company posted a consolidated net profit of Rs 453 crore for the quarter under review against the Rs 86.8 crore Consolidated net loss the company posted in the year-ago quarter.

The company’s revenue generated from operations was Rs 4,814 crore, a 28.6% increase against Rs 3,743.8 crore reported in Q1FY23.

The EBITDA for the June quarter came at Rs 879.1 crore against Rs 237.9 crore, whereas the EBITDA margins for the same stood at 18.5%, up by 1190 basis points against the year-ago quarter.