Pharmaceutical major Lupin Ltd, on 22 December, announced that it has acquired a portfolio of established products in Europe and Canada for a total consideration of Rs 91 crore (EUR 10 million).

In its regulatory filing, the company said that a wholly-owned subsidiary of the company, Lupin Atlantis Holdings SA, Switzerland, has signed an asset purchase agreement with Sanofi, which is a French multinational pharmaceutical and healthcare company.

The portfolio acquisition is for a total consideration of Rs 91 crore (EUR 10 million), along with sales milestones of up to Rs 72.8 crore (EUR 8 million).

As a part of this agreement, Lupin will acquire brands NALCROM in Canada and the Netherlands and AARANE in Germany. These brands have a turnover of Rs 53.7 crore in these markets for the year ended 31 March 2023.

The company added, “The proposed transaction is of strategic interest by bringing accretive assets in the respiratory field to help structure the company’s new respiratory franchise in Germany following the launch of LUFORBEC in Germany, the launch of Gx SPIRIVA and the acquisition of XOPENEX and BROVANA in the US.”

The transaction is set to be completed by the first quarter of 2024 after receiving approval from Canada’s Foreign Direct Investment Bureau.