Lupin Ltd Subsidiary to Acquire 43.38% Stake in Multicare Pharmaceuticals Philippines, Inc. for up to USD 39.6 Million

Lupin Ltd's subsidiary, Nanomi B.V., the Netherlands, has entered into definitive agreements to acquire a 43.38% stake in Multicare Pharmaceuticals Philippines, Inc. (MPPI) from certain existing shareholders. The acquisition involves 11,794,497 shares and is expected to be completed by the end of May 2026. The cost of acquisition is not expected to exceed USD 39.6 million. MPPI is a Philippines-based company engaged in trading, importing, marketing, and distributing pharmaceutical products and medical devices. Nanomi currently holds 56.28% in MPPI. The acquisition will strengthen Lupin's market standing in the Philippines market and allow substantial integration of MPPI’s operations.