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Business EconomyPosted at: Aug 3 2016 1:19AM


Lupin to acquire 21 branded products from Japan's Shionogi

Mumbai, Aug 02 (UNI)Pharma company Lupin's Japanese subsidiary Kyowa Pharmaceutical Industry has entered into a strategic asset purchase agreement with Shionogi & Co., yesterday
'' Under the terms of this agreement, Kyowa will book the sales of the 21 products after December 1, 2016, and Shionogi will receive 15.4 billion yen (nearly $150 million) from Kyowa." company said in a filing BSE today.
Shionogi is a research-driven pharmaceutical company headquartered in Osaka in Japan and will transfer 21 products to Kyowa. The 21 products cover therapy areas such as Central Nervous System (CNS),
Oncology, Cardiovascular and Anti-infectives.
Kyowa is amongst the top 10 generic companies in Japan and a market leader in Central Nervous System (CNS) space. With this acquisition, Kyowa will rank sixth amongst generic companies in Japan.
Commenting on this development, Lupin's managing director Nilesh Gupta said in a statement, ''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,''Gupta further added.
Lupin is the fifth largest and fastest growing top 10 generics player in the US and is the third largest Indian pharmaceutical company by sales globally.
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Tags: #Lupin to acquire 21 branded products from Japan's Shionogi
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