New Delhi [India], April 2 : Lupin Ltd. has completed the acquisition of VISUfarma B.V, a European pharmaceutical company focused on ophthalmology, the company said in an exchange filing on Thursday. Lupin said the acquisition is a "significant milestone" in its strategy to expand the speciality care portfolio and strengthen its presence in the European region.
"The integration of VISUfarma has significantly expanded Lupin's ophthalmology portfolio to over 60 branded products spanning dry eye, glaucoma, eyelid hygiene, blepharitis, retinal health, and specialty nutraceuticals," the company said in the release.
The acquisition is expected to benefit Lupin as VISUfarma has a strong presence across key European market, including Italy, UK, Spain, Germany, and France. The acquired company's teams in these regions are equipped with deep ophthalmology expertise, trusted relationships, and strong local market insight.
The company said VISUfarma will support its ability to address the growing global demand for innovative eye care solutions, driven by an ageing population and the growing burden of diabetes-related eye complications.
Vinita Gupta, Chief Executive Officer of the company noted, "The VISUfarma acquisition marks a very exciting milestone for Lupin, adding a differentiated portfolio of more than 60 innovative eye health products supported by an established commercial infrastructure. Beyond being immediately accretive, this strategic acquisition will also expand our presence across Europe and accelerate the build-out of our speciality franchise."
Paolo Ciocetti, the chief executive officer of VISUFarma (Italy), said they are "thrilled" to begin the next chapter with Lupin as they see the Indian pharma major as an ideal partner due to its global expertise and commitment to Ophthalmology. "Together, we are confident that we can make a significant impact in advancing eye care across Europe and beyond," Ciocetti added.
Lupin Limited is an Indian pharmaceutical company with its headquarters in Mumbai and its products distributed in over 100 markets.
At the time of filing this report, Lupin Ltd was trading at Rs 2254.60 per share, down 0.89 per cent, on the National Stock Exchange.
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