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Lupin acquires Symbiomix Therapeutics for $150M

Lupin Ltd. acquired Symbiomix Therapeutics LLC for $150 million in cash.

The deal value includes $50 million up front and other time-based payments. The deal also includes sales-based contingent payments. The transaction, made through the company's U.S. subsidiary Lupin Inc., is funded internally.

The acquisition of Symbiomix and the Solosec franchise expands Lupin's branded women's health specialty business. Solosec, also known as secnidazole, is used to treat bacterial vaginosis in adult women.

The deal closed Oct. 11. Lupin said it entered into an option to acquire Symbiomix earlier in 2017.

The U.S. Food and Drug Administration approved Solosec on Sept. 15. Lupin expects the treatment to be available by mid-2018.