Lupin signs strategic asset purchase agreement with Temmler

Pharma Major Lupin Limited (Lupin) today announced that it has entered into a strategic asset purchase agreement with TEMMLER PHARMA GMBH & CO. KG (Temmler), a part of the Aenova Group, one of the world's largest pharmaceutical contract manufacturers, to acquire Temmler's specialty product portfolio subject to certain closing conditions.

Based in Marburg (Germany), Temmler has a fast growing specialty portfolio of 13 products including key Central Nervous System (CNS) products and specialty products that address rare disease areas like Myasthenia Gravis, Huntington disease as well as fast-growing dermatology products for anti-wart treatment. Since Huntington disease has many symptoms ranging from motoric symptoms to personality changes, both Temmler and Hormosan products can be used to treat the disease.

Commenting on the acquisition, Ms. Vinita Gupta, Chief Executive Officer of Lupin Limited said, "We are very pleased to add to our specialty business with this acquisition. Temmler's business has a strong strategic fit with Lupin's Hormosan business in Germany and enables Lupin to bring an enhanced specialty CNS portfolio to the German market."

Dr. Maurice Chagnaud, President - Europe and Head of Inhalation Strategy, commented, "Temmler is a profitable pharmaceutical player backed by a strong and experienced management team that is also taken on and which will strongly support our future growth plans. Temmler operates in niche segments and its specialty product portfolio has strong synergies with Hormosan's existing CNS portfolio. The acquisition not only complements but would also enhance Hormosan's specialty portfolio and enables it to grow into niche therapy areas.

Mr. Frank Elsen, Aenova Group CFO commented, "I believe that Lupin is perfectly poised to take Temmler's product portfolio and its growth forward. We are extremely optimistic about this strategic agreement which allows us to concentrate on our core business. As a leading CDMO we are proud to continue to manufacture and supply at highest quality all related products to our partner Lupin."