To expand its Contact Research And Manufacturing Services (CRAMS) business, Lupin Ltd, domestic pharmaceutical major has purchased Baroda-based Rubamin Laboratories Limited (RLL) for an undisclosed amount.

RLL, a Rubamin group division, concentrates chiefly on advanced intermediates and Active Pharmaceutical Ingredients (APIs), and offers research services to companies crosswise Brazil, Europe, Brazil, Argentina, Israel, South Korea, Japan and the United States. The annual earnings of the company stood at $10 million.

Satish Khanna, API group president, said, “This acquisition will allow us to create a separate base for our CRAMS business and give us a strong customer base. While CRAMS contributes to a very small share of our revenues today, this segment is expected to become a major growth driver for the company in the next few years.”

The Rubamin group has varied interests in mining and metallurgy in India and Congo.

The group’s main activity consists of processing cobalt metal, cobalt salts, nickel salts and copper sulphate from cobalt bearing ores, concentrates and other cobalt-nickel-copper containing recyclable materials. Rubamin also makes and exports zinc. RLL was established in 1995, when the group decided to foray into the pharma business.

“RLL divestment is part of larger strategy of the group as it intends to focus on its core expertise of mining and metallurgy,” said Mr. Khanna.