Lupin buys Hormosan Pharma to enter German market

by Dave

Yahoo! India News

Pharma major Lupin Limited has acquired Germany-based medicine marketing company Hormosan Pharma (Hormosan), to cater to the German market that is veering towards low-cost, insurance payout-controlled medicine. Hormosan specialises in the supply of medicines for nerve-related illnesses (CNS) and reported sales of Rs 45 crore for the year ended December 2007.

It develops, licences and markets a range of generics in Germany. With the acquisition, Lupin, which has annual sales of Rs 2,770 crore (USD$651.49 million) hopes to bypass the high overhead costs, which plague the top five generic drug companies that have controlled the German market traditionally.