Lupin stock closes 1.64% higher on Biocom acquisition

Pharma firm stock Lupin rose on the BSE on Friday after it announced the acquisition of Russia's Biocom, marking its foray into the market which is expected to be one of the top eight pharmaceutical markets in the world by 2018.

At 12:57 PM, the stock was trading 1.83 per cent or 35 points higher at Rs 1,904. It closed 1.64 per cent higher at Rs 1,900. The company has acquired 100 per cent equity stake in ZAO Biocom in Russia subject to certain closing conditions, Lupin Ltd said in a statement without disclosing the financial details.