In 2008, Lupin acquired 60% equity stake in PD, which is involved in distribution of a range of branded, generic prescription medicines and over-the-counter (OTC) products in South Africa and other major markets in the African continent.
As part of the deal, the founders of PD will exercise their put option before 31 March 2015, for the 40% equity stake it currently holds.
Subject to closing conditions, PD will become a wholly owned subsidiary of Lupin after completion of the transaction.
Currently, PD is claimed to be one of the fastest growing top 20 pharmaceutical companies in South Africa and third largest generic firm in the country.
Pharma Dynamics CEO Paul Anley said: "Lupin has been an extremely strong partner in our business since 2008 and we have always had an excellent relationship."
PD’s products also address therapies such as central nervous system (CNS), gastrointestinal, diabetes and gynaecological and male health segments.
The OTC product portfolio of the company comprises of antihistamines, cold & flu medication and heartburn treatment.
The company distributes products such as Amloc (Aanti-hypertensive), Fedaloc (Nifedipine), Bilocor (Bisoprolol), Texa Allergy (Cetirizine) and Lancap (Lansoprazole) in the South African market.