Mumbai: Drug maker Lupin Ltd said on 10 October it has acquired majority stake in Japan-based generic pharma company Kyowa Pharmaceutical Industry for an undisclosed amount.
“This is a very significant part of our strategy to tap leading global markets. It establishes a beachhead in the second largest pharmaceutical market in the world. This acquisition is a signal of our long-term commitment to the Japanese healthcare market,” Lupin Chairman Desh Bandhu Gupta said.
Kyowa has major strengths in product development, manufacturing and marketing of its products nationwide. Lupin would be able to add value significant through its strengths in R&D and global marketing, leading to major synergies, Gupta added.
Kyowa, which is ranked among the top ten generic firms, has a yearly turnover of Rs 248.09 crore. The product range of the company varies from psychiatry to cardiovascular and digestive portfolio, and comes under the brand name Amel.
The growth potential of Lupin had been fuelled by its acquisition spree. In 1998, the company had acquired the generic business of Boehringer Manheim, which expanded the company’s psychiatric product kitty.
Earlier, the company had also acquired Ospolot business from Bayer, sales business of Uji Pharmaceuticals and the sales right to all prescription drugs of MG Pharma Inc.