Lupin Shares Slumped Despite Acquiring Stake in Multicare Pharma
Shares of Lupin Ltd slumped more than 4% on 2 April despite the company announcing a minority stake acquisition in Multicare Pharmaceuticals Philippines, Inc. (MPPI). In an exchange statement, the business stated that its wholly owned subsidiary, Nanomi B.V., Netherlands, has entered into definitive agreements to acquire 11,794,497 shares of... The post Lupin Shares Slumped Despite Acquiring Stake in Multicare Pharma appeared first on Equitypandit.
Shares of Lupin Ltd slumped more than 4% on 2 April despite the company announcing a minority stake acquisition in Multicare Pharmaceuticals Philippines, Inc. (MPPI).
In an exchange statement, the business stated that its wholly owned subsidiary, Nanomi B.V., Netherlands, has entered into definitive agreements to acquire 11,794,497 shares of MPPI, representing a 43.38% holding, from current shareholders. The acquisition, valued at up to $39.6 million, is projected to be finalised by the end of May 2026, pending closing conditions.
In a separate announcement, the business stated that Nanomi has finalised the full acquisition of VISUfarma B.V., Netherlands. As a result, VISUfarma and its subsidiaries are now completely owned subsidiaries of Nanomi, beginning 1 April, 2026.
Lupin’s pipeline was strengthened last month when the US Food and Drug Administration (USFDA) granted provisional licenses for Sugammadex Injection and Pitolisant Tablets. Pitolisant tablets will be made at the company’s Nagpur plant.
At 2:18 pm, the shares of Lupin were trading 0.24% higher at Rs 2,269.50 on NSE.
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The post Lupin Shares Slumped Despite Acquiring Stake in Multicare Pharma appeared first on Equitypandit.
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