Lupin Ltd. Acquires Minority Stake in Multicare Pharmaceuticals Philippines, Inc.
Lupin Ltd. announced on April 1, 2026, that its wholly owned subsidiary, Nanomi B.V., has entered into definitive agreements to acquire a minority stake in Multicare Pharmaceuticals Philippines, Inc. (MPPI). The acquisition involves 11,794,497 shares, representing 43.38% of MPPI’s total outstanding paid-up shares.MPPI, headquartered in the Philippines, is engaged in the trading, importing, marketing, and distribution of pharmaceutical products and medical devices. Nanomi currently holds 56.28% in MPPI. As of March 31, 2025, MPPI reported a turnover of PHP 2,096.6 million and a net worth of PHP 1,265.5 million.
The acquisition is considered a related party transaction, and approval from the Audit Committee has been obtained. The transaction will be conducted on an arm's-length basis, with a valuation report obtained from Ernst & Young Merchant Banking Services LLP.
The acquisition is expected to be completed by the end of May 2026, subject to certain closing conditions. The cash consideration for the acquisition is not exceeding USD 39.6 million (or equivalent currency). Nanomi intends to acquire the shares with the objective of making MPPI a wholly-owned subsidiary in the future.
This acquisition is anticipated to strengthen Lupin’s market position in the Philippines and allow for integration of MPPI’s operations, enabling strategic flexibility and unlocking long-term value.
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Industry | Pharmaceuticals |
| 2 | Turnover (FY 2025) | PHP 2,096.6 million |
| 3 | Net Worth (as of March 31, 2025) | PHP 1,265.5 million |
| 7 | Consideration | Cash |
| 8 | Cost of acquisition | Not exceeding USD 39.6 million (or equivalent currency) |
| 9 | Shareholding acquired | 43.38% |
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