|Drug major Lupin inked a pact to acquire an additional 40% stake in South Africa’s Pharma Dynamics, taking its holding in the company to 100%. Lupin had earlier acquired 60% stake in the South African (SA) firm in September, 2008. Pharma Dynamics will become a wholly-owned subsidiary of Lupin, subject to closing conditions.
The company, however, did not disclose financial details of the transaction. 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, founded in 2001, distributes a range of branded, generic prescription medicines and over-thecounter (OTC) products in South Africa as well as other key markets across the African continent.