Indian pharmaceutical company Lupin Limited has paid USD 38.61 mn (EUR 26.5 mn) to acquire the US rights for the cardiovascular product Antara (Fenofibrate Capsules 43 mg and 130 mg) from Oscient Pharmaceuticals (OTC: OSCIQ), under the procedures of the US Bankruptcy Court. Antara had net sales of USD70m for 2008.
Our view: Antara is a product in growth mode (its sales increased 20% annually) also has market share of 4.5%. If Lupin has a planned for a way to make the product available in other countries also, then its a good deal.