Lupin Ltd. said on Monday that it acquired Huminsulin in India from Eli Lilly And Co in a move to expand its diabetes portfolio, according to a statement to the exchanges. The drugmaker, however, did not disclose terms of the deal.
Lupin has been marketing the Huminsulin range of products conisisting of Insulin Human, including Huminsulin R, Huminsulin NPH, Huminsulin 50/50, and Huminsulin 30/70, via existing distribution and promotion agreements with Lilly, India.
“This acquisition is strategic to our ongoing efforts to expand our diabetes portfolio and provide high-quality, affordable health care to our patients. It reinforces our unwavering commitment to combating diabetes and providing comprehensive care,” Nilesh Gupta, managing director of Lupin said.
The Huminsulin series of products is used for the treatment of type 1 and type 2 diabetes mellitus to improve blood sugar control in both adults and children.
Insulin is the primary compound used in treat type 1 diabetes management and often becomes essential over time in type 2 diabetes as the condition progresses.
The company said that there is a significant Indian population affected with diabetes for both type 1 and type 2 Diabetes Mellitus, where insulin human is prescribed for management along with other related therapies.
“Lupin has been at the forefront of providing holistic diabetes care to patients. This acquisition further strengthens our diabetes portfolio and enables us to offer a broad range of human insulin options to millions of patients, thereby helping them lead healthier lives,” Rajeev Sibal, president – India region formulations of Lupin.
Shares of Lupin Ltd. rose as much as 4.53% during the day to Rs 2,328.75 apiece on the National Stock Exchange. It closed 3.75% higher at Rs 2,311.35 per share, compared to a 0.71% decline in the benchmark Nifty. The share price has risen 74.71% on a year-to-date basis.
Twenty out of the 37 analysts tracking the company have a 'buy' rating on the stock, seven having a 'sell' rating and ten suggest 'hold', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 2.5%.
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