Lupin to acquire remaining stake in South African generic drug maker

CAPE TOWN, South Africa — Pharma Dynamics has entered into an agreement with Lupin, in which Lupin will acquire the remaining 40% equity in Pharma Dynamics.



Financial terms of the deal were not disclosed.

 

“The transaction represents significant foreign investment into SA and is a major vote of confidence in the business. It will add additional global muscle to Pharma Dynamics’ operations and support the next phase of growth for the company. I have enjoyed an excellent relationship with Lupin, who has been a key partner in the business since 2008,” stated Paul Anley, CEO of Pharma Dynamics.



Added Vinita Gupta, CEO of Lupin, “We are delighted with this development as Africa is fast emerging as one of the growth engines of the future. We deeply appreciate the efforts of Mr. Paul Anley in building Pharma Dynamics into a very robust and the fastest growing Pharma major in the Republic of South Africa. We are very pleased that Paul Anley has agreed to continue as the CEO”.