The New Jersey manufacturing plant of GAVIS will become the first for Lupin in the US
Indian pharmaceutical company Lupin has agreed to buy GAVIS Pharmaceuticals and Novel Laboratories for US$880m, to increase its US presence in generic medicines.
The transaction will broaden the Mumbai-headquartered company's pipeline in dermatology, controlled substance products and other high-value and niche generics.
The company claims to be the fifth largest generics player in the US and third-largest Indian pharmaceutical company by sales.
Lupin will gain an R&D organisation to complement its inhalation R&D centre in Coral Springs, Florida and GAVIS's New Jersey manufacturing facility will become Lupin's first in the US.
This is a pivotal acquisition for Lupin as it aligns with our goal to expand and deepen our US presence
New Jersey-based GAVIS is a privately held company specialising in formulation development, manufacturing, packaging, sales, marketing, and distribution of pharmaceuticals products. The company reported sales of $96m in 2014 and employs more than 250 people.
GAVIS currently has 66 ANDA filings pending approval with the US FDA and a pipeline of more than 65 products.
The combined company will have a portfolio of 101 in-market products, 164 cumulative filings pending approval and a pipeline of products under development for the US.
Vinita Gupta, Chief Executive of Lupin, said: 'This is a pivotal acquisition for Lupin as it aligns with our goal to expand and deepen our US presence. GAVIS has a strong track record of delivering highly differentiated products in a short time and is poised for continued strong growth as it delivers on its existing pipeline. GAVIS's capabilities and pipeline are an excellent complement to Lupin.'
Veerappan Subramanian, Founder and CEO of GAVIS, added: 'Joining forces with Lupin, a truly global player, will help realise our vision of building a broader, research-based high value, speciality business through organic growth.'