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Lupin enters Japan's branded medicine market

The company's Japanese subsidy will buy 21 products from Japan's Shionogi for Rs 1,000 crore.

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Lupin Pharmaceuticals will be spending Rs 1,000 crore to acquire atleast 22 products from Japan's Shionogi. In an August 1 meeting held, Lupin's Japanese subsidy agreed to acquire 21 long-listed products from Japan's Shionogi effective December 1, 2016. 

With this acquisition, the way for Lupin's entry into Japan's branded market will be paved. 

Commenting on the asset purchase deal, Nilesh Gupta, Managing Director, Lupin Limited, said, This acquisition marks Lupin’s foray into the Japanese Branded market in-line with our aspirations to build and strengthen our specialty business globally. The new Branded product portfolio has a strong fit with Lupin’s Kyowa business, as it adds depth and reach to its current CNS portfolio and other therapy areas.” 

With the acquisition, Kyowa will rank sixth amongst generic companies in India, the company said in a notification to the BSE.

The 'strategic asset purchase deal' is however subject to certain closing conditions and regulatory approvals including the transfer of marketing authorisation of the products in Kyowa. 

According to the conditions of the deal, Kyowa will book the sames of the 21 products after December 1 this year and Shionogi will get Rs 1,000 crore for the sale. 

"Japan is a very important market for us. The acquisition strongly supports our future growth plans and the brands have robust synergies with Kyowa’s existing portfolio which will enable Lupin to build a wide customer base across the key therapies," Dr. Fabrice Egros, President – Asia Pacific & Japan, Lupin Limited commented.

The 21 products cover therapy areas such as Central Nervous System (CNS), Oncology, Cardiovascular and Antiinfectives. 

Lupin's shares were trading down 0.88% or Rs 15.25 lower at Rs 1,708.10 per share. 

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