Lupin Ltd annouced its US subsidiary has acquired Symbiomix Therapeutics LLC for a cash consideration of $150 million.
Why this deal?
- Lupin has been looking to expand its specialty drugs portfolio in the US market to counter the persisting pricing pressure in generic drugs. The company is scouting for specialty assets in the US in the area of women’s health, pediatrics and neurology.
- With this acquisition Lupin is going to boost women’s health segment.
- US-based Symbiomix is focused on bringing innovative therapies for gynaecological infections that could lead to serious health consequences. In September, the US Food and Drug Administration (FDA) approved Symbiomix’s lead product, Solosec oral granules, for treatment of bacterial vaginosis.
Lupin expects Solosec to be commercially available by mid-2018. The product has been designated as a Qualified Infectious Disease Product (QIDP) by the US Food and Drug Administration (FDA).
Core Focus and Targeting
- US physicians prescribe more than 6 million prescriptions for bacterial vaginosis per year.
- Solosec is the first and only oral single-dose treatment option for the disease and hence has the potential to take significant share in that market, said Vinita Gupta, chief executive of Lupin.
- For bacterial vaginosis, the highest number of prescription is for metronidazole (brand name Flagyl).