Lupin acquires majority stake in South Africa's Pharma Dynamics

Mumbai-based pharmaceutical firm Lupin Limited has acquired a majority stake in South African company Pharma Dynamics, the largest privately-owned generics pharmaceutical company. Lupin is reported to have paid $25 million for its acquisition.

Cape town-based Pharma Dynamics, ranked No 6 amongst generic companies,  is amongst the fastest growing generic companies and has been consistently rated as the fastest growing generic company in South Africa over the past five years, during which period it has built marketing alliances, distribution agreements and contract manufacturing arrangements with several multinational companies.

Its brands command a premium image with the medical profession with leadership in the cardiovascu1ar segment, which accounts for nearly 50 per cent of all chronic medication consumed in South Africa.

"With the synergies of the two companies, we expect to be in the top league in the South African market very soon," said Lupin's managing director Dr Kamal Sharma. "We are extremely excited with this entry into this significant geography and are pleased that  Paul Anley will continue to lead the company."

The equity participation by Lupin will strengthen Pharma Dynamics' position as the backward integration capabilities of Lupin will assist it with patent issues, regular and reliable supplies and overall process control. The dedicated global business development department will ensure continual exposure to international companies and product opportunities.

Lupin is amongst the top five pharmaceutical companies of India,  and amongst the fastest growing with dedicated R&D facilities.