Pharmaceutical major Lupin has acquired a minority stake in Melbourne-headquartered Generic Health, for undisclosed amount.

Generic Health, markets a wide range of quality generic prescriptions and OTC products. The company has recently acquired Bellwether Pharma and has entered into a strategic alliance with Actavis.

Australia is one of the leading global markets with sales of over Australian $10 billion (including branded generics and OTC), and witnessing a rapid genericisation.

The latest investment in Generic Health reflects Lupin’s commitment to expand its business in Australia. Through acquisition, the Indian drug-maker aims to further enhance its reach and market penetration.

The current size of generics business, including branded generics, is estimated at Australian $3 billion.