The acquisition expands Lupin’s branded women’s health speciality business
Lupin announced that its US subsidiary, Lupin has acquired Symbiomix Therapeutics. Lupin had entered into an option to acquire the company earlier this year. Symbiomix is a privately held company focused on bringing innovative therapies to market for gynaecologic infections that can have serious health consequences. The acquisition has been made for a cash consideration of $150 million including a $50 million upfront and other time-based payments. In addition, there are sales based contingent payments. The acquisition is funded from internal funds. The transaction was closed today.
The acquisition of Symbiomix and the Solosec franchise significantly expands Lupin’s branded women’s health speciality business, which is presently anchored by Methergine (methylergonovine) tablets.
The US FDA recently approved Symbiomix’s lead product, Solosec (secnidazole) oral granules, for the treatment of bacterial vaginosis (BV) in adult women. Lupin expects Solosec to be commercially available by mid-2018. Solosec has been designated as a Qualified Infectious Disease Product (QIDP) by the US Food and Drug Administration (FDA) for the treatment of BV. QIDP designation is for medications intended to treat serious or life-threatening infections and makes Solosec eligible for at least 10 years of exclusivity in the US.
“We are delighted to complete the acquisition of Symbiomix and its Solosec brand, which immediately expands Lupin’s US women’s health specialty business into the highly-complementary gynecological infection sector,” said Vinita Gupta, CEO, Lupin. “This transaction is an important milestone in the evolution of our speciality business and gives Lupin a new therapeutic to bring to obstetricians and gynaecologists to treat a serious health condition they see frequently in their practices.”
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