Drug maker Lupin on Monday said its subsidiary has inked a pact to fully acquire Amsterdam-headquartered VISUfarma BV at an enterprise value of 190 million euros.
The company's wholly-owned subsidiary, Nanomi BV has signed a definitive agreement for the acquisition of VISUfarma BV, a portfolio company of global healthcare specialist investor GHO Capital Partners LLP, the Mumbai-based drug maker said in a statement.
The acquisition of VISUfarma, with its broad portfolio of eye health products and established commercial infrastructure, aligns with the company's strategy to expand its European business and footprint and to advance the company's global specialty franchise, it added.
By integrating VISUfarma's established commercial operations, Lupin will tap into the attractive ophthalmology market, which is experiencing significant global growth driven by an aging global population, the increasing incidence of diabetes-related eye complications, and growing awareness of preventive care, it said.
VISUfarma's established European operations will provide market expansion opportunities, direct presence and further business diversification across major European countries, including Italy, the UK, Spain, Germany and France, it added.
The Amsterdam-based firm's broad portfolio of over 60 branded ophthalmology products will present growth opportunities to accelerate drug maker's expansion into the specialty segment across regions, and is projected to drive growth in Europe as well as in other markets, it said.
"This acquisition strengthens our commitment to delivering innovative medicines to the patients and communities we serve. Beyond being immediately accretive, it also broadens our presence in Europe and further builds our specialty franchise in Ophthalmology," Lupin CEO Vinita Gupta said.
With the integration of VISUfarma, Lupin will offer a complete portfolio of products in the areas of dry eye, glaucoma, eyelid hygiene, blepharitis, retinal health and highly focused nutraceuticals prescribed by ophthalmologists, she added.
Lupin said it will finance the acquisition with existing cash on the balance sheet.
The acquisition is expected to be accretive to the company's growth and margin profile and the transaction is projected to close by the end of 2025, subject to certain closing conditions.
"As part of Lupin's ophthalmology operations, we will build towards a global ophthalmology franchise with a commitment to advancing eye care and improving patient outcomes," Paolo Cioccetti, CEO Italy, VISUfarma said.
Lupin shares were trading 0.39 per cent up at Rs 1,928.20 apiece on BSE.
The company's wholly-owned subsidiary, Nanomi BV has signed a definitive agreement for the acquisition of VISUfarma BV, a portfolio company of global healthcare specialist investor GHO Capital Partners LLP, the Mumbai-based drug maker said in a statement.
The acquisition of VISUfarma, with its broad portfolio of eye health products and established commercial infrastructure, aligns with the company's strategy to expand its European business and footprint and to advance the company's global specialty franchise, it added.
By integrating VISUfarma's established commercial operations, Lupin will tap into the attractive ophthalmology market, which is experiencing significant global growth driven by an aging global population, the increasing incidence of diabetes-related eye complications, and growing awareness of preventive care, it said.
VISUfarma's established European operations will provide market expansion opportunities, direct presence and further business diversification across major European countries, including Italy, the UK, Spain, Germany and France, it added.
The Amsterdam-based firm's broad portfolio of over 60 branded ophthalmology products will present growth opportunities to accelerate drug maker's expansion into the specialty segment across regions, and is projected to drive growth in Europe as well as in other markets, it said.
"This acquisition strengthens our commitment to delivering innovative medicines to the patients and communities we serve. Beyond being immediately accretive, it also broadens our presence in Europe and further builds our specialty franchise in Ophthalmology," Lupin CEO Vinita Gupta said.
With the integration of VISUfarma, Lupin will offer a complete portfolio of products in the areas of dry eye, glaucoma, eyelid hygiene, blepharitis, retinal health and highly focused nutraceuticals prescribed by ophthalmologists, she added.
Lupin said it will finance the acquisition with existing cash on the balance sheet.
The acquisition is expected to be accretive to the company's growth and margin profile and the transaction is projected to close by the end of 2025, subject to certain closing conditions.
"As part of Lupin's ophthalmology operations, we will build towards a global ophthalmology franchise with a commitment to advancing eye care and improving patient outcomes," Paolo Cioccetti, CEO Italy, VISUfarma said.
Lupin shares were trading 0.39 per cent up at Rs 1,928.20 apiece on BSE.
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