Lupin Pharmaceuticals has bought the US marketing rights of cholestrol-lowering drug Antara and related assets from bankrupt American entity Oscient Pharmaceuticals for $38.61 million (about Rs 185 crore). In a filing to the Bombay Stock Exchange, Lupin said it paid $38.61 million for the product and related assets, inclusive of inventory.
The firm has acquired the US rights for Antara (Fenofibrate capsules in the strength of 43 mg and 130 mg) on September 25, under the procedure of US bankruptcy court.
Earlier, Lupin had filed an Abbreviated New Drug Application for Fenofibrate capsules of the same composition.
On September 21, 2009, prior to the acquisition of Antara, Lupin sold its ANDA to Dr Reddy's Laboratories. Lupin also settled and resolved the pending litigation regarding the ANDA product, the filing said.
Acquisition of Anatara would enable Lupin to enter the primary care market with a three-product portfolio. The two other products are Suprax, used for treating bacterial infections, and Allernaze, prescribed for various allergies.
The filing noted that the firm would be more than doubling its sales force size in the next 12 months to reach key targets for these products.
