Lupin Acquires 43.38% Stake in MPPI Philippines

Lupin's wholly owned subsidiary Nanomi B.V. acquires 43.38% minority stake (11,794,497 shares) in Multicare Pharmaceuticals Philippines, Inc. for up to USD 39.6 million.
MPPI reported PHP 2,096.6 million turnover and PHP 1,265.5 million net worth as of March 31, 2025; incorporated November 2001.
Deal is a related party transaction with Audit Committee approval; Ernst & Young Merchant Banking Services LLP provided fair valuation.
Post-acquisition, Nanomi intends to eventually make MPPI a wholly owned subsidiary to unify emerging-market operations.