Lupin Ltd Transfers API R&D Division to Subsidiary and Modifies OTC Business Transfer

Lupin Ltd, a pharmaceuticals company, has transferred its API R&D Division to its wholly owned subsidiary, Lupin Manufacturing Solutions Limited (LMSL), for a consideration ranging from ¥ 175 million to X 225 million. The company has also modified the slump sale transaction of its Over-the-Counter Consumer Healthcare Business (OTC Business) by including one additional brand. The OTC Business, which had a revenue of about X 2,003 million in FY24, will be transferred to a new wholly owned subsidiary, LUPINLIFE Consumer Healthcare Limited (LCHL), for a consideration ranging from X 8,000 million to ¥ 9,000 million. The transfer of the API R&D Division and the modification to the OTC Business transfer are subject to customary conditions precedent and requisite approvals.