Goanna is indiacted for the relief of muscular aches and pains and other conditions such as arthritis.
The acquisition allows Generic Health to get the worldwide rights to the entire range of products under the Goanna brand that include premium therapeutic oils, rubs and ointments.
Lupin plans to add more brands in its product portfolio to strengthen its business in Australian market.
Lupin Business Development Africa Middle East and Latin America (AAMLA) president Vinod Dhawan said the Goanna acquisition demonstrates Lupin’s success in, and commitment to, building its brand franchise and equity globally.
"Since Goanna is an in-market, commercial product, our sales and marketing efforts will commence immediately and we are optimistic of it contributing positively to our topline in the coming years," Dhawan said.