GAVIS specializes in formulation development, manufacturing, packaging, sales, marketing, and distribution of pharmaceuticals products. GAVIS recorded sales of $96 million in 2014 and has 250 employees. GAVIS currently has 66 ANDA filings pending approval with the FDA (72% of which represent niche dosage forms) and a pipeline of more than 65 products under development. The combined company will have a portfolio of 101 in-market products, 164 cumulative filings pending approval and an extensive development pipeline.
Vinita Gupta, chief executive officer of Lupin, said, "This is a pivotal acquisition for Lupin as it aligns with our goal to expand and deepen our US presence. GAVIS has a strong track record of delivering highly differentiated products in a short time and is poised for continued strong growth as it delivers on its existing pipeline. GAVIS's capabilities and pipeline are an excellent complement to Lupin. The acquisition accelerates Lupin's entry into niche areas like controlled substances and dermatology. We are confident that Lupin's proven commercialization capabilities, vertically integrated manufacturing operations and supply chain strengths will accelerate GAVIS's growth. The acquisition is expected to be accretive to the earnings from the first full year of operations. In addition to the compelling strategic fit, there is a strong cultural fit between GAVIS and Lupin's entrepreneurial spirit and values."
Dr. Veerappan Subramanian, founder and chief executive officer of GAVIS, said, "This is a time of globalization for the specialty pharmaceutical industry and GAVIS is well positioned to capitalize on this exciting opportunity. Joining forces with Lupin, a truly global player, will help realize our vision of building a broader, research-based high value, specialty business through organic growth. I am confident that the combined entity will be a powerhouse in the U.S. specialty space and will significantly enhance Lupin's U.S. platform."