Lupin acquires Laboratorios Grin
BALTIMORE — Lupin on Thursday announced the acquisition of 100% equity stake in Laboratorios Grin, subject to certain closing conditions. The acquisition marks Lupin’s foray into the high-growth Mexican and the larger Latin American pharmaceuticals market. Mexico is one of the fastest-growing pharmaceutical markets in the world, valued at more than $13.5 billion and growing at 9% to 10% annually.
"This acquisition is a reflection of Lupin’s commitment to expand into the Latin American market and build its global specialty business," said Vinita Gupta, Lupin CEO. "We see a lot of synergies in this acquisition and plan to bring our ophthalmic pipeline to build the Grin business, as well as leverage their commercial presence to enter other promising therapy segments."
Incorporated in 1955, Grin is a specialty pharmaceutical company engaged in the development, manufacturing and commercialization of branded ophthalmic products. Laboratorios Grin recorded revenues of approximately $28 million in calendar year 2013.
Rexam launches recovery beverage
CHICAGO — Rexam, a global beverage can maker, announced that its recovery drink, Formula O2, has hit the market. The beverage, available in Orange Mango and Grapefruit Ginger flavors, is infused with 10 times more oxygen than tap water, 2.5 times more electrolytes than sports drinks and also includes 140 mg of natural caffeine.
Formula O2 was founded by three friends who grew tired of energy and sports drinks that claimed to help people, but were actually filled with unsavory ingredients.
"We were weary of all the energy and sports drinks that claimed to help people, but had ingredients that were questionable," said Dr. Dan Kim, VP research and design for Formula O2. "So we decided to create something totally different. Formula O2 helps you feel your best and quenches thirst with something light and refreshing. And working closely with Rexam, we were able to ensure we delivered it in a great-looking can that accommodates the 16 oz. of fluid we wanted for hydration. Rexam has been an excellent partner, very accommodating to our needs from the start."
Formula O2 is available online at DrinkO2.com and in select retailers in Ohio. The company said it plans to continue expansion.
Novo Nordisk launches “Cities Changing Diabetes” to fight urban diabetes
BAGSVAERD, Denmark — Novo Nordisk on Friday launched "Cities Changing Diabetes," a new partnership program to fight the urban diabetes challenge. The "Cities Changing Diabetes"program will first be launched in Mexico City, with other cities in North America, Europe and Asia soon to follow.
"The global diabetes epidemic is an emergency in slow motion," stated Lars Rebien Sørensen, CEO Novo Nordisk. "While there are many factors fueling the growth trajectory of diabetes, the most striking contributor is urbanization and the growth of cities. The ‘Cities Changing Diabetes’ program is our call to arms for people around the world to work together to tackle this for the long-term."
The aim of the program is to map the problem, share solutions and drive action to fight the diabetes challenge in the big cities around the world. The program will be developed in partnership with University College London and supported by Steno Diabetes Center, Denmark, an institution specializing in diabetes care and prevention, as well as a range of local partners, including healthcare professionals, city authorities, urban planners, businesses, academics and community leaders, for example.
During 2014, the partners will work together to better understand the diabetes challenge in cities in order to identify the actions needed to tackle it. Following the initial discovery phase, Novo Nordisk and its partners, with the help of policymakers, health authorities, the private sector and the volunteer sector, will announce action plans for each of the cities that will be part of the program.
"We have implemented large-scale initiatives to fight overweight, obesity and diabetes, and we are starting to see the results," said Armando Ahued Ortega, the minister of health of Mexico City. "However, diabetes continues to constitute a heavy burden for the city’s health services. I look forward to seeing the results from the research phase initiated today, as they will provide a solid foundation for developing an integrated response to tackle this public health emergency. I am very proud of Mexico City taking the global lead to fight urban diabetes."