HOME > BUSINESS > Lupin buys US-based vaginosis drug maker for $150 mln

Lupin buys US-based vaginosis drug maker for $150 mln

Pharma major Lupin said that its US subsidiary, Lupin, Inc has acquired Symbiomix Therapeutics, LLC for a cash consideration of USD 150 million including a USD 50 million upfront and other time‐based payments.

In addition, there are sales based contingent payments.

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 gynecologic infections that can have serious health consequences.

The acquisition is funded from internal funds, Lupin said, and the deal was closed today.

“The acquisition of Symbiomix and the Solosec franchise significantly expands Lupin’s branded women’s health specialty business, which is presently anchored by Methergine (methylergonovine) tablets,” the company said.

On September 15, 2017, the US FDA 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 U.S. 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 United States.

The FDA approval of SolosecTM was supported by a comprehensive set of studies, including two pivotal trials in BV and an open label safety study, which demonstrated efficacy for single‐dose Solosec 2g, the Indian company said.

“Solosec is the first and only single dose oral treatment approved for BV, the most prevalent gynecologic infection in the U.S., affecting 21 million women ages 14 to 49 annually,” it said.

Compliance with the current leading therapy for BV has been shown to be only approximately 50%, and more than 50% of women treated for BV have a recurrence within 12 months.

If left untreated or inadequately treated, BV can increase the risk of contracting sexually transmitted diseases and increase the risk of pre‐term birth. US physicians prescribe more than 6 million prescriptions a year for bacterial vaginosis.

“We are delighted to complete the acquisition of Symbiomix and its SolosecTM brand, which immediately expands Lupin’s US women’s health specialty business into the highly‐complementary gynecological infection sector,” said Vinita Gupta, CEO of Lupin.

“This transaction is an important milestone in the evolution of our Specialty business and gives Lupin a new therapeutic to bring to obstetricians and gynecologists to treat a serious health condition they see frequently in their practices.”

Symbiomix was founded in 2012 by a team of industry professionals and entrepreneurs and was backed by three of the world’s leading healthcare venture capital firms: OrbiMed, F‐Prime Capital Partners, and HBM Partners.

Follow ULTRA.news
Eris Lifesciences completes acquisition of Strides Shasun India generics ops Pharma company Eris LifeSciences said it has completed its purchase of the India branded generics of Strides Shasun for Rs 500 cr in cash."We now wish to confirm that the transaction ahs achieved closure," said Eris Lifesciences.Last month, Strides Shasun said it was sel...
Tata DoCoMo users get Airtel network, but not the tariff plans yet Bharti Airtel and Tata Teleservices said they have started moving customers of Tata DoCoMo to the Bharti Airtel network using what is called an 'intra-circle roaming' or ICR agreement.This essentially means that Tata Teleservices will continue to operate a network in a techn...
Strides Shasun says Eris deal to help reprioritize business, lower debt Pharma major Strides Shasun said it agreed to sell its India branded generics business to Eris LifeSciences Limited for Rs 500 cr in cash."This transaction is the outcome of the company's portfolio reprioritization, to focus more sharply on larger regulated markets," it said...
PVR acquires stake in US luxury theater chain iPic PVR Limited, India's largest theater chain, said it agreed to acquire a minority stake in US-based luxury restaurant-and-theater company iPic-Gold Class Entertainment, LLC.The US company operates 16 luxury theaters with 121 screens across 10 States in the United States, PVR s...
SSG Capital increases stake in Cox & Kings group Cox and Kings said Private Equity firm SSG Capital acquired the 34.42% stake held by Rohatyn Group in its subsidiary Prometheon Holdings (UK) Limited. SSG Capital Group also owns 2.72% stake in Cox & Kings Ltd.Prometheon Holdings is the Holding company of Holidaybreak, which...
Tata Teleservices loses 7.3% subscribers in October in Maharashtra Tata Teleservices, the mobile telecom arm of the Tata Group that was sold to Bharti Airtel last month, lost about 7.3% of its nearly 7 mln mobile subscribers in Maharashtra and Goa, according to a regulatory filing by the company.Tata Telservices Maharashtra Ltd, as the compa...
American Tower Corp buys towers of Idea and Vodafone in India for $1.2 bln Vodafone India and IdeaCellular Ltd said they agreed to sell their standalone tower businesses in India to the local unit of American Tower Corp for an aggregate enterprise value of Rs 7,850 cr (US $1.2 billion).In case the sale is completed before the merger of Vodafone Ind...
Just Dial says no acquisition proposal from Google ‘yet’ Just Dial, the local classifieds company, said it "does meet relevant corporates for exploring any business or strategic opportunities and tie-ups", but there is no proposal to be acquired by Google "as of now".The statement came in response to a report in the Business Stand...
TeamLease buys 40% of education technology start-up Schoolguru TeamLease Services, one of India’s largest staffing companies, said it has agreed to acquire 40% of Schoolguru Eduserve Private Limited, an Online Learning company that works with 18 Universities.Established in 2012, Schoolguru provides services to Indian Universities to help...
Lupin gets USFDA warning on Goa, Indore plans, to affect new approvals Pharma major Lupin said it a warning letter from the US Food and Drug Administration for its formulations manufacturing facilities in Goa and Indore on Monday."We are deeply disappointed to hove received this outcome. While there will be no disruption of existing product sup...
RCom says still talking to Brookfield, others to sell towers Reliance Communications said it is in talks with several parties, including Brookfield Asset Management, to sell its tower assets."The Company is renegotiating the tower transactions with all the interested parties including Brookfield Infrastructure Group," it said.The...
Ruchi Soya Industries sold to Devonshire Capital Ruchi Soya Industries said global private equity player Devonshire Capital will buy 51% of the company and 100% of certain of its 'branded packaged oils distribution business'.The money will be substantially utilized for payment to all lenders over a period of time, it said. ...
UFO Moviez, Qube announce merger, ratio 64:36 Two of India's top satellite-based cinema feed providers, UFO Moviez and Qube Cinema Technologies, have decided to merge to take advantage of higher scale.The merger ratio and valuation will be 63.6% for UFO and 36.4% for Qube Digital.Currently, UFO supplies its movie fee...
Alembic Pharma buys US-based generics manufacturer Alembic Pharmaceuticals said it bought New Jersey-based generic drug developer Orit Laboratories LLC, which will bring seven approved generics and four applications with it.Orbit has "a team of eight highly experienced scientists," Alembic said, adding that the firm focuses ...
RCom to issue shares to MTS, to pay earn-out fees in case of 4G conversion Reliance Communications said it the company's board has approved the issue of fresh shares in the company to the shareholders of Sistema Shyam Teleservices Ltd, which operates the MTS brand of telecom services in India.RCom's merger with MTS received the government's approva...
Bharti Infratel to try to buy Vodafone & Idea stake in Indus Towers Bharti Infratel, the tower arm of Bharti Airtel, said it has decided to explore the possibility of buying out the stakes of Idea Cellular and Vodafone in rival tower company Indus.Bharti and Vodafone currently own about 42% each in Indus, while Idea holds about 11%. As a res...
Lupin Q2 sales down 8%, PAT falls 31.3% Pharma major Lupin reported an 8% fall in Q2 revenue to Rs. 3,952 cr.Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the quarter fell by 13% to 927 cr.Net profit was also down by 31.3% at Rs 455 cr in in the September quarter. The profit was high...
Lupin gets USFDA approval for generic ADHD drug Pharma Major Lupin said it received final approval from the United States Food and Drug Administration (FDA) to market a generic version of Concordia Pharmaceuticals Inc.’s ADHD drug Kapvay.It had annual sales of approximately USD 66 million in the US.Clonidine Hydrochlo...
Cognizant to beef up digital practice with acquisition of Zone Continuing the trend of IT outsourcing companies topping up their digital practice with targeted acquisitions, Cognizant said it agreed to acquire Zone, a digital agency specializing in customer experience, digital strategy, technology and content creation.The transaction i...
Wipro increases stake in Oracle cloud specialist Drivestream to 44% IT company Wipro Ltd said it increased its stake Drivestream, which focuses on implementing Oracle's cloud solutions, to 43.7% from 26.1% by investing around Rs 26 cr.Wipro had first invested in the company about four months ago, and seems to have liked what it saw. It made ...