Lupin purchases stake in Pharma Dynamics

Lupin has announced the completion of the acquisition of a majority stake in Pharma Dynamics.

It said the South African firm is among the fastest growing generics firms with a premium image among the medical community and strong position in the cardiovascular business unit.

For the year ended February 2008, Pharma Dynamics reported revenues of 118 million rands (8.08 million pounds).

Dr Kamal Sharma, managing director of Lupin, said: “We are extremely excited with this entry into this significant geography and we are pleased that Mr Paul Anley will continue to lead the company.”

Mr Anley, managing director of Pharma Dynamics, said the partnership would be of benefit to the company’s position in the generics industry.

Lupin was founded in 1968, while it commissioned a research and development centre and formulations plant at Aurangabad in 1980.

Earlier this year, the company acquired German generics firm Hormosan Pharma and a stake in Australian company Generic Health.