Lupin, the country’s biggest maker of tuberculosis medicines, has bought Baroda-based Rubamin Laboratories (RLL), which will give it an entry into the global contract research and manufacturing services (CRAMS) business. The deal size was not disclosed.
Rubamin manufactures advanced intermediates and specialises in active pharmaceutical ingredients (APIs) used in drug-making. The eight-year-old company has a wide customer base in Europe. It has a turnover of about $10 million.
RLL belonged to the Rubamin Group, whose main business is mining and metallurgy in India and Congo in Central Africa. RLL was hived into a separate company last year.
“The acquisition enables us to step up our strategic initiative in the CRAMS segment,” Lupin Chairman Desh Bandhu Gupta said. “We have a proven track record of achieving global position in every therapy that we have entered at the intermediate and API level.”
The global CRAMS market was estimated at $895 million in 2006 and growing at 43 per cent, according to business research and consulting company Frost & Sullivan.
(Source: Business Standard)
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