Page 155 - CW E-Magazine (21-11-2023)

Pharmaceuticals Pharmaceuticals

WORKWEAR INDIA BUSINESS

Lindström’s new cleanroom facility near Hyderabad Biocon Biologics announces divestment of two

targets pharma sector non-core branded formulations

Lindström India, a wholly-owned pharma. “The facility is equipped with Biocon Biologics Ltd. (BBL), a sub- expected to transition to Eris, ensuring that Eris Lifesciences is well positioned
subsidiary of the Finnish textile rental the latest advancements in cleanroom sidiary of Biocon Ltd., has announced continuity for both employees and to build further on the Dermatology and
company, Lindström Oy, has opened a technology, ensuring the integrity of that it has entered into a defi nitive patients Nephrology franchise in India. Biocon
cleanroom facility at Nandigaon village processes within, particularly in indus- agreement with Eris Lifesciences Ltd. Biologics remains committed to a suc-
in Rangareddy district, 50-km from tries like healthcare and pharmaceuti- for the divesture of its Dermatology The divestiture is expected to close cessful transition of employees of these
Hyderabad. cals,” Finland Ambassador, Mr. Kimmo and Nephrology branded formulations by the end of November 2023, subject business units, our product brands,
Lahdevirta, said, after inaugurating the business units in India that mostly com- to customary closing conditions. and customers to ensure continuity for
The company invested €5-mn to facility. prised of its legacy small molecules’ patients,” said Mr. Shreehas Tambe,
develop the facility, mainly targeting the brands. The transaction is a ‘Slump The divestment of the non-core CEO & Managing Director, BBL.
pharmaceutical industry in Hyderabad. Lindstrom’ network Mr. Juha Laurio, President & CEO, Sale’ that will enable a seamless trans- branded formulations business units in
Spanning over three acres, the facility With the inauguration of this faci- Lindström Group, said India was home fer of the product brands and emplo- India is in line with BBL’s strategy to “We have successfully demonstrated
will also cater to industries such as food lity, Lindstrom now has a network of for 13 out of the 100 facilities the com- yees associated with these businesses. sharpen focus on core therapy areas as our ability to turn around and create value
processing, healthcare, electronics, and 11 workwear and two cleanroom busi- pany operates in 23 countries. Apart a fully integrated biosimilars company. in acquired businesses. The acquisi-
automobiles. Cleanroom facilities are ness units in the country, with 2.3-mn from India, Lindström has cleanroom Total transaction value of the tion of Biocon Biologics’ Nephro-
specialised environments designed to garments pieces in circulation. Besides facilities in China, Finland and Turkey. divestment is Rs. 3,660-mn, inclusive “This divesture of non-core assets logy and Dermatology Branded Formu-
maintain a meticulously controlled level designing and producing uniforms for It earlier launched its cleanroom faci- of working capital conveyed as part of allows Biocon Biologics to unlock value lations businesses in India is in-line
of cleanliness, essential for industries its customers, the company cleans them lity in Pune in 2018. The company the deal, and represents an accretive within our Branded Formulations port- with our strategic goals as well as our
like healthcare, pharmaceuticals, and meeting the stringent quality and safety employs more than 900 skilled profes- multiple of 4x on Revenues and 22x folio in India and sharpen focus on our capital allocation framework,” said
electronics. standards required in industries like sionals in India. on EBITDA. Post deal close, over 120 core therapy areas like Diabetes, On- Mr. Amit Bakshi, Chairman & Managing
employees of the two business units are cology and Immunology. We believe Director, Eris Lifesciences.
FINANCIAL PERFORMANCE
Lupin’s Q2 net profi t jumps 277% BUSINESS REORGANISATION
Cipla to transfer generics business to wholly-owned
Lupin has posted a net profi t of Region-wise performance
Rs. 489-crore for the second quarter Lupin’s North America sales for subsidiary
ending September 30, 2023, up 277%, Q2 FY2024 stood at Rs. 1,866-crore
from the net profi t of Rs. 129-crore, (Rs. 1,329-crore), up 40.4%, and
registered in the same quarter last year. accounted for 38% of its global sales. Drugmaker Cipla is to transfer its Cipla promoters are said to be look- taken “to provide agility, singular focus
Lupin received 11 ANDAs (abbreviated generics business as a going concern on ing to sell their stake in the company. and faster decision making,” it added.
Mr. Nilesh Gupta, Lupin’s Man- new drug approvals) from the USFDA a slump sale basis to Cipla Pharma and The company has dismissed reports of
aging Director, said, the company and launched one product in the quar- Life Sciences Ltd. (CPLS), its wholly- a possible stake sale as “speculation”, “The transaction will help in capita-
delivered growth across all target geo- ter. The company now has 157 generic owned subsidiary, for Rs. 350-crore, though the latest internal streamlin- lising on this high growth potential
graphies, “while managing costs and products in the US. subject to approvals. ing of businesses has sparked interest business by increasing investments
achieving operating leverage, thereby again, if it was paving the way for such in new launches, deepening penetration
driving strong topline and bottomline India clocked sales of Rs. 1,691-crore Cipla’s board of directors have ap- activity. The company has, however, in Tier 2-6 towns/cities and improving
growth.” (Rs. 1,584-crore), up 6.8%; and accounted proved the transfer, however, the busi- not indicated any such intent in this patient access through high quality generic
for 34% of global sales. The company ness transfer agreement is yet to be exe- announcement. It has said, there would medicines,” the company said. The
The company’s total revenue from tinues to do well, with growth in our launched four brands across therapies cuted, as the transaction is subject to be no change in its shareholding pattern, generics business at Rs. 1,445-crore,
operations stood at Rs. 5,038-crore target therapies ahead of the market,” during the quarter. approval from the CPLS board as well, after the generics business sale. accounts for about 9.95% of Cipla’s
(Rs. 4,145-crore), up 21.5%. Mr. Gupta said. the company told the stock exchanges. turnover at Rs. 14,519-crore. CPLS
In the Europe, Middle-East and The transfer is set to be completed on Giving the rationale behind the was incorporated in August 2008.
“The US launch of Tiotropium DPI Giving a regulatory update on their Africa (EMEA) markets, sales stood December 31, 2023, or any date mutu- move, Cipla said the generic market No details were available on the number
was the highlight of the quarter, mak- plants, he said that the Nagpur-1 and at Rs. 475-crore (Rs. 384-crore), up ally agreed between them, it added. was expected to grow at a fast pace and of people who may also be transferred
ing inhalation a substantial portion of Mandideep-2 facilities received “satis- 23.9%, and accounted for 10% of its it was one of the largest players in the to this company, once the transaction is
our US sales. Our India business con- factory (USFDA) inspection closures”. global sales. The development comes even as business. The move was being under- cleared.

154 Chemical Weekly November 21, 2023 Chemical Weekly November 21, 2023 155

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