Mumbai: Pharma major Lupin has announced its entry into the ophthalmology market with the acquisition of Netherlands-based VISUfarma for €190 million (about Rs.1970 crores). This move is expected to help Lupin expand its therapeutic portfolio beyond chronic diseases like TB and Diabetes into Opthamology while also helping it expand into Europe.
Lupin’s wholly owned Europe subsidiary, Nanomi B.V., has signed a defininative agreement to acquire VISUfarma, the company said in a press release to the bourses. Headquartered in Amsterdam, VISUfarma specialises in eye care products, marketing a range of products to treat dry eyes, glaucoma, retinal health and eyelid hygiene. It has a presence across the Netherlands, Italy, UK, Spain, France and Germany, with revenues reaching €48.1 million and a market cap of €134.6 million.
“The acquisition of VISUfarma, with its broad product portfolio of innovative eye health products and established commercial infrastructure, aligns with Lupin’s strategy to expand its European business and footprint and to advance the Company’s global speciality franchise. 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.
In addition, VISUfarma’s broad portfolio of 60+ branded ophthalmology products will present growth opportunities to accelerate Lupin’s expansion into the specialty segment across regions, and is projected to drive growth in Europe as well as in other markets,” the company said the press release.
Currently owned by GHO Capital, VISUfarma has expanded from a domestic player into a regional one, with established operations across key markets. Lupin aims to use VISUfarma’s reach to tap into the attractive ophthalmology market, which is expecting a growing demand due to an ageing population and growing incidences of diabetes-related eye complications.
“We are delighted to welcome VISUfarma into the Lupin family. 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.” Vinita Gupta, CEO of Lupin, said.
Lupin will finance this acquisition through internal accruals, with the acquisition aimed to close by the end of 2025.
Lupin’s shares were trading at Rs.1953 at 10:45 AM on September 29, and is expected to rise further following the announcement.
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