Mexicos Lab Grin acquired by Lupin
Wednesday, October 08, 2014
One of the leading ophthalmic companies, Mexico’s Lab Grin has been acquired by Lupin.
The event in regard to the acquisition took place on September 30th, 2014. Hence, Lab Grin is now wholly a Lupin subsidiary.
“The acquisition marks Lupin’s foray into the high growth Mexican and the larger Latin American (LATAM) pharmaceuticals market,” quoted by Lupin.
The amount for the acquisition remains undisclosed.
Grin which came up in 1955 basically carries out operations in development and manufacturing of opthalmics. It has solid employee strength of 275 and during the year 2013, it had revenues of about US $ 28 Million.
The ophthalmic market in Mexico currently stands at $275 million and has shown growth at 10 per cent over the last 5 years. $450 million revenue by 2017-18 is possible.
