Updated on 3 July 2015
Ms Vinita Gupta, CEO, Lupin (Photo Courtesy: www.oneorganichemistoneday.blogspot.com)
Established in 1991, Biocom is a growing generic pharmaceutical company with a major focus on therapies such as cardiovascular, central nervous system and antimicrobials for systemic use and also does contract manufacturing and secondary packaging.
The acquisition marks Lupin's foray into the Russian pharmaceutical market which recorded RUB 765 billion in sales, placing it as one of the top 10 pharmaceutical markets in the world in 2014 (IMS Health).
For over a decade, Russian pharmaceutical market recorded double digit growth and expected to continue with this trend, projecting Russia to be one of the top 8 pharmaceutical markets in the world by 2018 (IMS Health).
Biocom recorded sales of RUB 861.2 million in financial year 2014 and has 118 employees.
Commenting on the acquisition, Ms Vinita Gupta, CEO, Lupin, said, "We are excited about our entry into the Russian market through Biocom. Russia is an attractive market and this acquisition will also enable our expansion into neighboring markets as well as other Eastern European markets in the future."
Biocom operates a modern European GMP compliant plant and was also one of the first Russian pharmaceutical manufacturing companies to receive an approved manufacturer status from the World Health Organization (WHO) in 2013.