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Lupin, an Indian drug major, has acquired the privileges of the drug which is used for the treatment of high blood cholesterol and high triglycerides, Antara, for about $38.61 million from Oscient Pharmaceuticals, which is based in the US.
The company, in its regulatory filing to the BSE, mentioned that it has acquired the rights as well as the assets and inventories of the firm under the procedures of US Bankruptcy Court.
The market for similar fenofibrate drugs had been about $1.9 billion over the last one year, out of which Antara had recorded sales worth $70 million.
"Since Antara is a previously approved, commercial product, our sales and marketing efforts will commence immediately," said Vinita Gupta, group president and chief financial officer for Lupin.
Even though Lupin had earlier had its own fenofibirte capsules, it was sold to Dr. Reddy's Laboratories on Sep 21.
Lupin had registered a consolidated revenue of Rs.3,914.5 crore ($783 million) in 2008-09, while its profit after tax stood at Rs.501.5 crore ($100 million).
