The Hindu Business Line : Lupin to pick up 51 pc in Belgium's Artifex

Lupin Ltd has signed a memorandum of understanding to acquire 51 per cent equity in Belgium's Artifex Finance CVA, along with its subsidiaries including Dafra Pharma Ltd, a company focussed on anti-malarials.

Artifex is the holding company that owns Dafra Pharma and financial details would be available only after the due diligence is done, a Lupin spokesperson said.

Lupin expects to leverage its expertise in making anti-TB medicines to jointly develop with Dafra for use by multi-lateral agencies such as the World Health Organisation. Simultaneously, Lupin will be able to access the existing Dafra infrastructure and distribution network in Africa to market its range of products, Lupin told the Bombay Stock Exchange.

Malarial drugs

Dafra is a dedicated anti-malarial company with a basket of malaria-focussed therapies including a paediatric suspension, which is a unique offering and also holds a patent on a new combination therapy that cures malaria in 24 hours.

Dafra has developed a marketing and distribution network covering over 25 countries in Africa and works closely with the National Malaria Boards in various countries.

Malaria is endemic in most parts of Africa. WHO and RBM (Roll Back Malaria) program aim with the help of Global Fund to provide about 200 million treatments in 2007 to various African countries.

Lupin shares closed at Rs 1,041.60 on the BSE, down 4.12 per cent.

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