Lupin Limited announced that its wholly owned subsidiary, Nanomi B.V., has entered into definitive agreements to acquire a 43.38% minority stake in Multicare Pharmaceuticals Philippines, Inc. (MPPI). The deal, valued at up to USD 39.6 million, aims to consolidate control of the entity, strengthening Lupin’s market footprint in the Philippines. The transaction is expected to conclude by the end of May 2026, supporting the company’s long-term integration strategy for its emerging-market businesses.
Strategic Acquisition Details
Through its subsidiary, Nanomi B.V., Lupin has moved to acquire 11,794,497 shares of Multicare Pharmaceuticals Philippines, Inc. (MPPI). This transaction represents 43.38% of the total outstanding paid-up shares of the entity. Currently, Nanomi already holds a 56.28% stake, and this acquisition is a strategic step toward making MPPI a wholly owned subsidiary in the future.
Financial Overview and Rationale
MPPI operates as a key player in the Philippine pharmaceutical sector, focusing on the trading, importing, and distribution of pharmaceutical products and medical devices. As of March 31, 2025, the entity reported a turnover of PHP 2,096.6 million and a net worth of PHP 1,265.5 million. Over the last three fiscal years, the entity has demonstrated significant scale, with revenues of PHP 1,744.7 million in FY 23, PHP 2,351.2 million in FY 24, and PHP 2,096.6 million in FY 25.
Future Impact and Timeline
The total cost for the acquisition is capped at USD 39.6 million. By gaining full control, Lupin intends to achieve substantial operational integration and gain greater flexibility within the Philippines market. This move is designed to unify the company’s emerging-market operations and unlock long-term value for stakeholders. The deal is slated to be finalized by the end of May 2026, subject to customary closing conditions.
Source: BSE
