Generic Health fund raises
October 1, 2010
AUSTRALIAN generic medicines
supplier, Generic Health, has
announced that as part of its recent
capital raise, Indian
pharmaceutical company, Lupin
Limited, now holds a majority stake
in its company.
The new investment drive was
undertaken in order to provide
support for the company’s long
term market share and growth
ambitions, and according to
Generic Health, will benefit clients
due to the subsequent expansion of
its current product portfolio.
The company has however
moved to reassure customers about
the shift in shareholdings saying
that Lupin’s investment will not
change the day to day operations
within the business and that “all
current working relationships with
customers and suppliers will be
maintained.
In addition the company reiterated
its commitment to the mandate of
developing “simple, reliable service,
whilst retaining the niche low cost
business model and commitment to
providing cost effective generic
pharmaceuticals to Australia’s
pharmacies and hospitals”.
Lupin has been a significant
investor in Generic Health since
2008 and produces a wide range of
generic and branded formulations
(including cardiovascular, diabetes,
asthma, pediatrics, CNS, GI, antiinfectives,
NSAIDs, TB and
cephalosporins medications) for
both the developing and developed
markets.
Furthermore Lupin is at present
the fifth largest and the fastest
growing Top 5 company in the US
(for prescriptions), and also holds
top 10 pharmaceutical growth
positions in India, Japan and South
Africa, and last year it clocked net
consolidated sales of US$1.1b and
profit of US$180m.
The above article was sent to subscribers in Pharmacy Daily's issue from 01 Oct 10To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 01 Oct 10
