The transaction is to be accretive to earnings in the first year as per the drug maker. The pharmaceutical company announced the agreement which acquired the rights of two inhalation medicines, Brovana (arformoterol tartrate) Inhalation Solution, from Sunovion Pharmaceuticals Inc. (Sunovion) and Xopenex HFA (levalbuterol tartrate) Inhalation Aerosol the price in the market of $75 million.
Brovana (arformoterol tartrate): Long-term maintenance treatment of bronchoconstriction with a chronic obstructive pulmonary disease, which includes emphysema and chronic bronchitis. On the other hand, Xopenex HFA is a short-acting beta2-adrenergic agonist (SABA) that helps preventbronchospasm in adults, children four years of age and adolescents.
Vinita Gupta, CEO of Lupin, said, “We remain focused on strengthening our respiratory franchise in the US. We have established a strong position in the respiratory segment with our Albuterol MDI and Brovana-authorised generic launch. The addition of these two brands enhances our position in the segment.”
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To develop and commercialise a range of branded formulation and biotechnology products. There are 100 markets in India, the US, Asia Pacific, Europe, Latin America and the Middle East. The portfolio of Lupin has two acquisitions of inhalation products in the US, also the presence in the respiratory therapy area while continuing to provide these important medicines.
During the first quarter of FY23, the net loss of the drug maker reported Rs 89.1 crore in Q1 FY23, compared with a net profit of Rs 542.5 crore in the first quarter of FY22. Total revenue from operations declined 12.3 per cent year on year to Rs 3,743.8 crore. On 19 October 2022, Lupin shares went down 0.78 per cent to Rs 688.10.
