Lupin announced today that it has entered into a long term strategic partnership with Merck Serono, the biopharmaceutical division of Merck. Lupin will support Merck Serono in the implementation of the company's General Medicines portfolio expansion initiative in emerging markets thus addressing local needs for affordable, high quality medicines.
The agreement builds on an established working relationship between the two companies, and could add up to 20 new products to the current portfolio. The first launches are expected in 2016.
Through this partnership, Merck Serono will expand its overall portfolio in core therapeutic areas of Merck Serono's General Medicine & Endocrinology franchise in selected countries in Latin America, Asia, Central Eastern Europe, and Africa.
"The agreement with Lupin is an exciting new approach for Merck Serono to address local health needs in fast growing regions with constantly increasing demand for high quality medicines from trusted companies like Merck Serono and Lupin," said Elcin Ergun, Head of Global Commercial at Merck Serono.
Shares of the company declined Rs 44.15, or 3.12%, to trade at Rs 1,370.65. The total volume of shares traded was 126,778 at the BSE (2.53 p.m., Tuesday).