Deal brings Indian company technology platforms to develop complex injectable products
Mumbai-based drug major Lupin has acquired Dutch company Nanomi for an undisclosed amount, marking its foray into the technology intensive injectables space. Nanomi, the Dutch life sciences company, founded in 2004, provides advanced drug delivery products, enabled by its monosphere technology. The company has expertise in drug delivery, molecular imaging and diagnostics.
Nanomi has patented technology platforms to develop complex injectable products. It has a rich talent pool of scientists who would be backed by Lupin’s global research and development and manufacturing teams.
'With the use of Nanomi’s proprietary technology platform, Lupin would be able to make significant inroads into the niche area of complex injectables,' said CEO Vinita Gupta.
Nanomi is an independent, privately owned Dutch high tech company that develops micro- and nanosphere technology for the life sciences markets, which helps in drug delivery, molecular imaging, diagnostics and research and analysis. It uses emulsification and spray drying technologies to produce functional emulsions, micro- and nanospheres, and micro- and nanoparticles.
The company has successfully entered into business agreements for the development of products for several top multinational companies. In 2009 it joined a consortium for the development of a therapy to prevent chronic kidney disease. The consortium partners – four companies, two universities and two academic hospitals – are to develop jointly a therapy where biodegradable polymer microspheres loaded with anti- inflammatory and antifibrotic compounds, would be implanted in the kidney.
The implanted microspheres would provide a local drug depot with a sustained drug release profile, maximising the intended therapeutic effects and minimising systemic side-effects. The therapy aims to restore the kidney function, thus reducing the need for transplantations.
Lupin surpassed expectations with its third quarter (October-December) net profit rising 42%, driven by strong business growth in the US. 'Other markets like India are getting back on track,' said Nilesh Gupta, managing director, Lupin. 'Our consistent focus on ramping up operational efficiencies has led to higher margins and better profitability.'
US formulation sales including IP, which contributed 45% to total sales, grew by 31% during the third quarter of 2014. In dollar terms, US formulations revenues increased 12% year-on-year to US$215m during the quarter, the company said.
Lupin launched five products in the US during the quarter and now has 62 products in the market. Revenues from the Indian formulations business, which contributed 22% of overall revenues, rose 14%.
Japanese sales climbed 2%, while the South African business and Pharma Dynamics recorded a growth of 18% compared with the same period a year ago. Sales in the rest of the world, which accounted for 5% of total revenues, grew 27% during the third quarter.
Active pharmaceutical ingredients (API) net sales grew 26% year-on-year during the period, and contributed 10% to consolidated revenues. Lupin filed five abbreviated new drug applications (ANDAs) and received 5 ANDA approvals in the quarter. 'Cumulative ANDA filings with the US FDA now stand at 186 with the company having received 96 approvals to date. The company received five approvals from European regulatory authorities in the quarter,' Gupta added.