Indian pharmaceutical major Lupin has take over the US based Gavis Pharmaceuticals in cash free and debt free transaction for $880 million (around 5,606 crore rupees). In this regard, Lupin has entered into definite agreement with the Gavis Pharmaceuticals LLC and its subsidiary Novel Laboratories Inc. This acquisition will help Indian company to expand and deepen its presence in US and enter into niche generics areas such as dermatology and controlled substances along with other high value areas. It should be noted that this acquisition creates the Fifth largest portfolio of Abbreviated New Drug Application filings with the US Food and Drug Administration. Gavis Pharmaceuticals is based in New Jersey and specialises in development, manufacturing, sales, marketing, packaging & distribution of around 101 pharmaceuticals products. It has recorded sales of $96 million in 2013-14 and has over 250 employees.
Lupin take over US pharmaceutical firm Gavis
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