Lupin Limited — JV/Acquisition, 01-04-2026: Acquisition

Lupin, via its subsidiary Nanomi B.V., is acquiring an additional 43.38% stake in Multicare Pharmaceuticals Philippines (MPPI) for up to USD 39.6 million (approx. 328.7 Cr). This move aims to make MPPI a wholly-owned subsidiary, significantly strengthening Lupin's market position in the Philippines. The acquisition will allow deeper operational integration and provide strategic flexibility to unify emerging-market businesses, unlocking long-term value. MPPI, a pharmaceutical products distributor, reported FY25 turnover of PHP 2,096.6 million. This is a strategic play for enhanced control and growth in a key market.