Lupin Ltd and Dafra Pharma Ltd of Belgium decided not to pursue the existing MoU. Both the companies choose to independently pursue their respective business plans and continue discussions for possible areas of cooperation in the future.

Lupin Ltd. had, in May 2006 signed a MoU to acquire 51 per cent equity in Artifex Finance CVA, Belgium along with its subsidiaries including Dafra Pharma Ltd.

Commenting on this, Dr Kamal Sharma, managing director, Lupin Ltd said, "Lupin continues to be interested in anti-malarials".

Dafra Pharma Ltd, a Belgium based privately owned pharma company, is specialized in R&D and distribution of Artemisinin based Combination Therapies (ACT's) against malaria. It has a long established presence and a strong sales network with over 100 delegates in Africa and with branches in Mali, South Africa, Congo, Kenya and Nigeria.