On Wednesday, Lupin has announced the acquisition of 100% equity stake in Medquimica Industria Farmaceutica, Brazil, (Medquimica).

In a statement Lupin said, Medquimica is one of the “fastest growing companies” in the Brazilian branded generics market.

In 2014, Medquimica recorded net revenues of approximately BRL 94 million(~$31 million) and has over 550 employees.

“The acquisition is a reflection of Lupin’s commitment to expand into the Latin American market and an important part of Lupin’s Emerging Markets play going forward,” Vinita Gupta, chief executive officer, Lupin said.

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