Drug maker Lupin Ltd [Get Quote] said it acquired the pharmaceutical business of Rubamin group, for an undisclosed amount.
The company acquired Rubamin Laboratories Ltd, the subsidiary of the Rubamin group engaged in the manufacture of advanced intermediates for Active Pharmaceutical Ingredients under the Contract Research and Manufacturing model, Lupin informed the Bombay Stock Exchange.
"The acquisition will enable us to step up our strategic initiative in the CRAMS segment," Lupin Chairman Desh Bandhu Gupta said.
Rubamin group is a research driven organisation based in India. Shares in the company were last trading unchanged at Rs 580 on BSE.
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