India's Lupin buys SA's Pharma Dynamics

Indian drugmaker Lupin says that it has completed the acquisition of a majority stake in Pharma Dynamics in South Africa. PD is amongst the fastest growing generic companies, with a clear leadership in the cardiovascular segment. The firm reported revenues of 118.0 million rands ($14.6 million) for the year ending February. It ranks sixth amongst generic firms and is growing at 34% per annum, according to IMS Health data. Founder, Paul Anley, retains a significant equity holding and will continue as the chief executive. The South African pharmaceutical market is estimated at $2.5 billion, with generics currently a third of this and increasing rapidly.

PD will launch at least 12 new products this year, which is much higher than industry standards of about four new products per year. The pipeline of novel products will drive growth and PD has the most extensive pipeline of new products in the country due to a network of strong alliances with international manufacturers. Lupin's participation will strengthen PD's position, the firms say.