On April 7, 2022 Global pharma major Lupin Limited (Lupin) reported the completion of the acquisition of a portfolio of brands from Anglo-French Drugs & Industries Limited (AFDIL) and its Associates (Press release, Lupin, APR 7, 2022, View Source [SID1234611580]).

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The acquisition will strengthen Lupin’s India Formulation business by adding a fast-growing portfolio of vitamins, minerals, supplements and neurological products. The acquisition of the AFDIL brands takes Lupin further in shaping its portfolio to emerge as a leading pharmaceutical company in India.

"India is critical in shaping Lupin’s growth story going forward. This acquisition strengthens our position in the Indian market, where we have already established ourselves as a leading provider of quality pharmaceuticals and a trusted partner. With this portfolio, Lupin will have a stronger market presence, providing healthcare professionals and patients with a more meaningful and comprehensive product offering," said Nilesh Gupta, Managing Director, Lupin.

"The portfolio sold to Lupin was birthed by Anglo-French, and now, through this divestiture, we are confident that these brands will scale to a significant size and have a large impact on the health and well-being of the Indian population. We are confident in Lupin’s ability to enhance the value of our portfolio of brands," said Abhay Kanoria, Chairman & MD, AFDIL.

Shailesh Gadre, Founder of GCV Life was the exclusive advisor for the transaction.