Nilesh Gupta, managing director of India's Lupin, told Bloomberg that his company gave Wockhardt a financial sizing up recently before deciding it didn't represent a good M&A target.
India's drug business has taken a big financial hit in the last years as the FDA has stopped some of its top players from shipping drugs to the U.S. But experts still see big potential in the industry, saying it will grow faster than other Indian industries, particularly if players shed their conservative approach and get involved in the global M&A mix that their larger competitors are benefiting from.
Earlier this year, Indian generic drugmaker Lupin picked up a Netherlands-based manufacturing specialist to extend its reach in sterile injectable drugs within Europe. The company, however, is not done buying capacity and capabilities throughout the continent.
In the latest black eye for India's pharma industry, Lupin is recalling some 10,000 bottles of its Suprax antibiotic in the U.S. The pills fell short of standards for purity, the FDA said in a statement on its website.
Rapidly expanding Indian generic drugmaker Lupin has stumbled, having to recall 5 lots of the antibacterial med Suprax (cefixime) because it failed purity tests.
With some of its larger rivals already at work on biotech knockoffs, Indian drugmaker Lupin is on the hunt for partners to help shepherd it into the biosimilar fray, taking aim at top-selling treatments soon to come off patent.
India's Lupin is staking a claim in sterile injectables, with a deal to buy the Netherlands-based drugmaker Nanomi.
Yet another generic drugmaker is looking to make its mark in sterile injectables. India's Lupin is buying an expert in the field in an effort to break into that market, which has spawned a number of deals in the last year.
The third-quarter earnings reports continue to roll in, and good news came in with the tide for some, but not all.
India's Lupin has begun recruiting R&D specialists for a new research center in the U.S. "It's a work in progress," says CEO Vinita Gupta. "We are attracting top-notch research and business development talents for this facility.