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Lupin Ltd Capital/Financing Update 2023

Sep 22, 2023

61031_rns_2023-09-22_944e92e6-14e2-44fc-a6a2-8565bbf91496.pdf

Capital/Financing Update

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September 22, 2023

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BSE Limited

Department of Corporate Services, P. J. Towers, Dalal Street, Mumbai Samachar Marg, MUMBAI - 400 001.

 National Stock Exchange of India Limited

Exchange Plaza, Bandra Kurla Complex, Bandra (East), MUMBAI - 400 051.

Sub: Disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’).

Dear Sir/Madam,

In compliance with Regulation 30 read with Schedule III of the Listing Regulations and SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, we are pleased to inform you that the Company has signed an agreement with A. Menarini India Pvt. Ltd. and A. Menarini Asia-Pacific Holdings Pte. Ltd. (collectively ‘Menarini’), for acquiring five legacy brands in strategic therapy areas viz. Gastroenterology, Urology and Anti-infectives, along with the associated trademark rights, particulars of which are as under: -

		Name of the Acquirer- Lupin Limited
a)	name of the targetetc.;	entity, details in brief such as size, turnover	Menarini is an Italian pharmagroup.ThebrandsPiclin(PicosulphateSodium),Menoctyl(OtiloniumBromide),SucramalO(Sucralfate + Oxetacaine),Pyridium(Phenazopyridine)and Distaclor (Cefaclor) arebeing acquired.Turnover of the said brandsfor the year ended March 31,2023 was about INR 322million.
b)	whether the acquisition would fall within related partytransaction(s) and whether the promoter/promoter group/groupcompanies have any interest in the entity being acquired? If yes,nature of interest and details thereof and whether the same isdone at “arms-length”;		No.
c)	industry to which the entity being acquired belongs;		Pharmaceuticals.

d)	objects and impact of acquisition (including but not limited to,disclosure of reasons for acquisition of target entity, if its businessis outside the main line of business of the listed entity);	The brands being acquiredare in line with the business ofthe Company.The acquisition aligns wellwith the Company’s strategicgoal to broaden its presencein the Indian market. Byofferingacomprehensiverange of products, the aim isto deliver even greater valuetostakeholdersandthecommunities the Companyserves.
e)	brief details of any governmental or regulatory approvalsrequired for the acquisition;	N.A.
f)	indicative time period for completion of the acquisition;	Acquisitions stand completed.
g)	consideration - whether cash consideration or share swap or anyother form and details of the same;	Cash consideration.
h)	cost of acquisition and/or the price at which the shares areacquired;	The consideration is aboutINR 1010 million.
i)	percentage of shareholding/control acquired and/or number ofshares acquired;	The acquisition is of brandsalong with the associatedtrademark rights and not ofanyunitordivisionofMenarini.
j)	brief background about the entity acquired in terms ofproducts/line of business acquired, date of incorporation, historyof last 3 years turnover, country in which the acquired entity haspresence and any other significant information (in brief);	Menarini group, is a leadinginternationalpharmaanddiagnostics company, withpresenceinover140countries. It is focused ontherapeuticareasviz.cardiology,oncology,pneumology,gastroenterology,infectiousdiseases,diabetology,inflammation and analgesia.Revenuesfromtargetportfolio products in the last 3years were: -FY21 - INR 227 million;FY22 - INR 260 million; andFY23 - INR 322 million.