Lupin Ltd today announced that it has acquired a minority stake in Generic Health Pty Ltd, an Australian owned and operated generic pharmaceutical company headquartered in Melbourne.

General Health, markets a wide range of quality generic prescription and OTC products through its highly competent and sustainable partnerships.

Generic Health has plans to become a significant player in the Australian generics pharmaceutical industry as is evident from its acquisition of Bellwether Phanna and strategic alliance with Actavis

Australia is one of the leading global markets with sales of over A$10 billion (including branded generics and OTC ) witnessing a rapid genericisation. Current size of generics business including branded generics is A$3 billion.

Lupin has established its presence in this market through partnership business model. It has filed 16 dossiers of generic products with a total market size of about A$850 Mn and has approvals for 14 of these. Through Generic Health, Lupin will further enhance its product reach and market penetration.

Vinod Dhawan, president AAMLA region said "Our investment in Generic Health reflects our commitment to expand our business in Australia. We have built a significant business in this market leveraging our existing alliances with leading local generic companies which we will continue to nurture and grow."

Gavin Upiter, managing director, Generic Health, said, "The new investment arrangement with Lupin will greatly contribute to our longer term. market share ambitions. Lupin's equity investment will result in no change in the day-to-day operations of Generic Health."

This month  Lupin  entered into a multi-year promotion and marketing agreement for the `AeroChamber Plus' line of products with US firm Forest Laboratories Inc.Under the agreement, Lupin Pharmaceuticals Inc US will use its 50-strong sales force to promote the product to pediatricians (See : Lupin in marketing alliance with Forest for asthma product)

In July 2008.  Lupin along with Sun Pharmaceutical Industries and Dr. Reddy's Laboratories had received final approval for first generic versions of  Depakote delayed-release tablets (DivaJproex Sodium Delayed-Release Tablets,), from the U.S. Food and Drug Administration (USFDA).

The drug is used for the treatment of epilepsy, migraine headaches, seizures and bipolar disorder. (See: Lupin Ltd, Sun Pharma and Dr Reddy's get US FDA approval for generic Depakote delayed-release tablets)