Lupin goes up as company reveals pact to acquire two inhalation brands from Sunovion

Stocks

The global pharmaceutical major will acquire all rights to Brovana (arformoterol tartrate) Inhalation Solution and Xopenex HFA (levalbuterol tartrate) Inhalation Aerosol for $ 75 million.

Lupin

Lupin

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Lupin stock has opened in the green after the company said it has signed an agreement to acquire two inhalation brands from Sunovion Pharmaceuticals Inc.

The global pharmaceutical major will acquire all rights to Brovana (arformoterol tartrate) Inhalation Solution and Xopenex HFA (levalbuterol tartrate) Inhalation Aerosol for $ 75 million.

“Lupin expects the transaction to be accretive to earnings in the first year. The acquisition of these two brands expands Lupin’s portfolio of inhalation products in the US and strengthens the company‚Äôs presence in the respiratory therapy area while continuing to provide patients access to these important medicines. Brovana is indicated for long-term maintenance treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease, including chronic bronchitis and emphysema,” the firm said.

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“We have established a strong position in the respiratory segment with our Albuterol MDI and Brovana authorized generic launch. The addition of these two brands enhances our position in the segment,” said Vinita Gupta, CEO of Lupin.

At 09:15 hrs, Lupin was quoting at Rs 670.65, down Rs 17.45 or 2.54 percent on BSE. It has touched an intraday high of Rs 673.85 and an intraday low of Rs 670.65.