Lupin to acquire additional 40 percent stake in S Aftrica's Pharma Dynamics

Lupin on 18 March 2015 inked a pact to acquire an additional 40 per cent stake in South Africa's Pharma Dynamics. The company did not disclose financial details of the transaction.

With this acquisition, Lupin has 100 per cent stake in the company. Pharma Dynamics will become a wholly-owned subsidiary of Lupin.

Earlier, Lupin had acquired 60 per cent stake in the South African (SA) firm in September, 2008.

As per the agreement, the founders of Pharma Dynamics will exercise their put option before 31 March 2015 for the 40 per cent equity stake they currently hold in the company.

The move would add an additional global muscle to Pharma Dynamics' operations and support the next phase of growth for the company.

Cape Town-based Pharma Dynamics was founded in 2001. It distributes a range of branded, generic prescription medicines and over-the-counter (OTC) products in South Africa as well as other key markets across the African continent.