Lupin Ltd — M&A Activity 2025

Apr 2, 2025

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April 02, 2025

National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051

BSE Limited

P. J. Towers, Dalal Street, Mumbai Samachar Marg, Mumbai - 400 001

Symbol: LUPIN

Scrip Code: Equity - 500257

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

Dear Sir/Madam,

Pursuant to Regulation 30 read with Schedule III of the Listing Regulations, we are pleased to inform you that Lupin Healthcare (UK) Limited, a wholly owned subsidiary of the Company in United Kingdom, has entered into a definitive agreement and acquired the entire share capital of Renascience Pharma Limited, United Kingdom.

The detailed disclosures as required under SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, in respect of aforesaid matter is enclosed herewith as Annexure I.

A Press Release in this regard is also enclosed herewith.

The above is for your information and dissemination.

Thanking you,

For LUPIN LIMITED

Digitally signed by Amit Kumar Gupta DN: c=IN, o=Personal, title=7875, pseudonym=d30e6db65d0a41f2b9a52198e78bf149, Amit Kumar 2.5.4.20=b7e8678b2d6b381cb8f4761d9cbb4338253d f2c8e93e8fcf768f8e86438a00a1, postalCode=400705, st=Maharashtra, serialNumber=de9bbd80d8994e4be9f0dd2399144eb a7e782d70287df6aad1994f0b522fa08a, cn=Amit Gupta Kumar Gupta Date: 2025.04.02 18:59:56 +05'30' AMIT KUMAR GUPTA COMPANY SECRETARY & COMPLIANCE OFFICER (ACS -15754)

Encl: a/a.

LUPIN LIMITED

Registered Office: 3[rd] Floor, Kalpataru Inspire, Off W. E. Highway, Santacruz (East), Mumbai - 400 055 India. Tel: (91-22) 6640 2323. Corporate Identity Number: L24100MH1983PLC029442 www.lupin.com

www.lupin.com

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Annexure I

Disclosure as per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023.

Sr. No.	Particulars	Details	Details
1.	Name of the target entity, details in brief such as size, turnover etc.;	(i) (ii) (iii)	Name of the Target entity: Renascience Pharma Limited (‘RPL’) Details of Target entity: RPL is a private limited company incorporated under the laws of United Kingdom, with registered number 09420886 and registered office in Bedfordshire, United Kingdom. Financial details of Target entity: The financial details of RPL as on February 29, 2025, are as under: 1. Turnover: GBP 3.51 million 2. Net Worth: GBP 0.95 million
2.	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”;	The acquisition does not fall within the purview of related party transactions. None of the promoter/ promoter group/ group companies have any interest in the proposed acquisition.
3.	Industry to which the entity being acquired belongs;	Pharmaceuticals.
4.	Objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);	The acquisition aims to extend Company’s portfolio offering of specialty pharmaceuticals in the United Kingdom.
5.	Brief details of any governmental or regulatory approvals required for the acquisition.	No regulatory or Governmental approval is required to consummate the transaction.
6.	Indicative time period for completion of the acquisition;	The transaction has been completed simultaneously with the execution of the definitive agreement today i.e. April 02, 2025.

LUPIN LIMITED

Registered Office: 3[rd] Floor, Kalpataru Inspire, Off W. E. Highway, Santacruz (East), Mumbai - 400 055 India. Tel: (91-22) 6640 2323. Corporate Identity Number: L24100MH1983PLC029442 www.lupin.com

www.lupin.com

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7.	Consideration - whether cash consideration or share swap or any other form and details of the same;	Cash consideration.
8.	Cost of acquisition and/or the price at which the shares are acquired;	GBP 12.3 million.
9.	Percentage of shareholding / control acquired and / or number of shares acquired;	100% of the shareholding of the RPL has been acquired by Lupin Healthcare (UK) Limited, UK, wholly owned subsidiary of the Company, thereby making RPL as its Wholly Owned Subsidiary.
10.	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief):	(i) Brief Background:- RPL is a licensee and sole supplier of four niche Bio- Generics products to primary and secondary care market in the UK with no local generics competition. The brand portfolio of RPL consists of two Injectables for (non-viral) infectious diseases, ear drops for pain management and oral therapy for indications in cardiology and nephrology. XAQUA (metolazone thiazidic diuretic) and OTIGO (phenazone + lidocaine antalgic ear drop) are the lead products (together accounting for ~90% of the revenues) and both currently have no generics competition. (ii) Date of Incorporation:- February 04, 2015. (iii) Country in which RPL has presence:- United Kingdom. (iv) Turnover for the last 3 years:- FY 25: GBP 3.51 million FY 24: GBP 1.87 million FY 23: GBP 0.72 million

LUPIN LIMITED

Registered Office: 3[rd] Floor, Kalpataru Inspire, Off W. E. Highway, Santacruz (East), Mumbai - 400 055 India. Tel: (91-22) 6640 2323. Corporate Identity Number: L24100MH1983PLC029442 www.lupin.com

www.lupin.com

Press Release

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BSE: 500257 NSE: LUPIN REUTERS: LUPIN.BO BLOOMBERG: LPCIN

Lupin Announces the Acquisition of Renascience in the United Kingdom

Mumbai/Slough, Berkshire, United Kingdom, April 2, 2025: Lupin Healthcare (UK) Limited, the wholly owned subsidiary of global pharma major Lupin Limited (Lupin) announced today the acquisition of Renascience Pharma Limited (Renascience), a UK-based pharmaceutical company and sole supplier of 4 specialty products targeting unmet medical needs in the UK.

With this acquisition, Lupin Healthcare (UK) Limited gains full ownership of Renascience which, going forward, will trade as its subsidiary. The portfolio includes branded injectable cephalosporines for infectious diseases, a topical treatment for ear pain and a branded quinazoline-like diuretic for cardiovascular and renal indications.

Commenting on the acquisition, Fabrice Egros, President Corporate Development, Lupin said, “In recent years Lupin has established a highly successful branded business in the UK delivering significant value to patients and the NHS (National Health Service). This strategic move allows Lupin to further enhance our branded medicine portfolio, catering to unmet medical needs and furthering our mission to provide accessible and sustainable healthcare solutions."

Co-founder & Director of Renascience, Eric Che commented, “Renascience was founded with the goal to improve patient access to speciality, critical medicines and we are extremely proud of what we have been able to revive to date for the benefit of patients. As we looked forward to the future, it was deeply important that Renascience has the best opportunity to build on what has been accomplished and expand its reach to improve outcomes for as many patients as possible, and we are pleased to have found that opportunity with Lupin. Lupin has the cultural fit, capabilities and experience for the next stage of growth, and we are excited to see the products go from strength to strength.”

About Renascience

Renascience Pharma Limited, UK, is a pharmaceutical company specialising in niche branded products for primary and secondary care. The company is the sole supplier of these products in the UK market, with a portfolio that includes injectables for infectious diseases, ear drops for pain management, and oral therapy for cardiology and nephrology indications.

About Lupin Healthcare

Lupin Healthcare is a subsidiary of the global pharmaceutical leader, Lupin Limited. Entrepreneurial spirit, external focus and pipeline strength elevate Lupin Healthcare from a standard generics company to a more specialist organisation, partnering with the NHS to deliver value in the anti-retroviral, women’s health, neuroscience, and respiratory space. To know more, visit www.lupinhealthcare.co.uk

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Press Release

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BSE: 500257

NSE: LUPIN

REUTERS: LUPIN.BO

BLOOMBERG: LPCIN

About Lupin

Lupin Limited is a global pharmaceutical leader headquartered in Mumbai, India, with products distributed in over 100 markets. Lupin specialises in pharmaceutical products, including branded and generic formulations, complex generics, biotechnology products, and active pharmaceutical ingredients. Trusted by healthcare professionals and consumers globally, the company enjoys a strong position in India and the U.S. across multiple therapy areas, including respiratory, cardiovascular, anti-diabetic, anti-infective, gastrointestinal, central nervous system, and women's health. Lupin has 15 state-of-the-art manufacturing sites and 7 research centers globally, along with a dedicated workforce of over 23,000 professionals. Lupin is committed to improving patient health outcomes through its subsidiaries - Lupin Diagnostics, Lupin Digital Health, and Lupin Manufacturing Solutions. To know more, visit www.lupin.com or follow us on LinkedIn https://www.linkedin.com/company/lupin

For further information or queries, please contact:

Rajalakshmi Azariah

Vice President & Global Head – Corporate Communications, Lupin rajalakshmiazariah@lupin.com

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