Lupin Ltd on Wednesday said its US subsidiary has acquired Symbiomix Therapeutics LLC for a cash consideration of $150 million, in a bid to expand in the women’s health segment.
The total cash consideration includes an upfront payment of $50 million and other time-based payments. Lupin will also make certain sales-based contingent payments to Symbiomix, the Indian drugmaker said in a release, adding that the acquisition is funded from internal accruals.
US-based Symbiomix is focused on bringing innovative therapies for gynecological infections that could lead to serious health consequences. In September, the US Food and Drug Administration (FDA) approved Symbiomix’s lead product, Solo's oral granules, for treatment of bacterial vaginosis.
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