Lupin buys Belgian drugmaker Artifex

MUMBAI: Lupin Ltd will acquire a 51% stake in privately owned Artifex Finance CVA of Belgium for an undisclosed amount. The company will also buy the units of Artifex, including Dafra Pharma Ltd, a drugmaker focusing on anti-malaria medicines.

Lupin, which makes drugs for treating tuberculosis and heart ailments, wants to expand into anti-malaria medicines due to the widespread nature of the disease.

V V L N Sastry, country head, Firstcall India Equity Advisors Ltd, told DNA Money, “The acquisition substantially strengthens Lupin’s basket of offerings in anti-malarial segment.”

The worldwide market for malaria drugs is worth around $600 million out of which 85% is marketed in African countries.

In fact, Dafra Pharma alone sells its drugs in more than 25 countries in Africa. Malaria affects as many as 500 million people worldwide every year resulting in as many as 2.7 million deaths. It is most severe in children, resulting in one child dying every 30 seconds.

“Developing countries have a huge market for such drugs,” Sastry said. He feels Lupin may slowly expand its market to other developing countries, including India.