Lupin signs MoU with Symbiotec

Our News Bureau - Mumbai

Lupin signed an MoU with Symbiotec Pharmalab, an Indian company that focuses on steroids, for a joint venture by making an equity investment in Symbiotec for a majority stake. Dr Desh Bandhu Gupta, Chairman of Lupin, said, "This alliance enables us to aggressively pursue our strategic initiative to participate in the steroids formulation business in chosen global markets including US and Europe." Steroids have very wide application area especially in the field of respiratory dermatology, arthritis, contraceptives and pro-pregnancy applications. It is estimated that the market for steroids is over $10 billion and growing at about eight percent annually.

Lupin has received approval from the USFDA for its ANDA for Cefdinir for Oral Suspension, 250 mg/5mL. Cefdinir capsules and suspensions are the AB-rated generic equivalent of Abbott's Omnicef, which has US sales worth approximately $787 million for the 12-month period ended December 31, 2006 (IMS Health). Cefdinir is indicated for the treatment of patients with mild to moderate infections caused by susceptible bacteria.

In addition, Lupin also received final approval from the USFDA for it's ANDA for Simvastatin Tablets 10mg, 20mg, 40mg and 80mg. Lupin's Simvastatin Tablets are the AB-rated generic equivalent of Merck's Zocor tablets. Simvastatin is indicated for the treatment of high cholesterol. With this approval, Lupin now has 21 ANDAs approved by the USFDA.