An industry analyst said a global pharma major, which has an active presence in the Australian market, was in discussion with Lupin for the venture.
This multinational is learnt be having one of the largest marketing networks in Australia and neighbouring regions, the analyst added.
A senior executive from Lupin confirmed that the company was in talks and that it had also filed two drug registrations with TGA, the Australian authority. However, he declined to further details.
Lupin will supply a range of therapeutic products, and geriatric formulations from India to the joint venture. The JV agreement will be signed shortly, sources said.
Meanwhile, Lupin is also setting up a greenfield finished dosage facility at Jammu with an investment of Rs 26 crore. This facility is being set up in compliance with international quality manufacturing norms.
Recently, pharma major GSK had signed a marketing joint venture agreement with Lupin for its anti-TB drugs for Philippines market. The company had two other similar alliances in South Africa and Japan with Esparma and Kyowa Pharma respectively.
The marketing alliance with Japan's Kyowa Pharmaceutical Industry Co, wherein the two companies will collaborate to market finished dosage forms or formulations in Japan.
The agreement covers the cardiovascular segment, central nervous system, gastro-intestinal and anti-infective segments.
According to the pact, Lupin will develop the product and manufacture it at its plants in Goa or Mandideep in Madhya Pradesh. Kyowa will take care of the regulatory issues, besides the marketing.
