Lupin Ltd.'s subsidiary has finalised a deal to fully acquire Amsterdam-headquartered VISUfarma BV for 190 million euros, the company informed the exchanges on Monday. Lupin's share price gained nearly 1% on Monday to trade at Rs 1,925.60 apiece at intraday.
The company's wholly-owned subsidiary, Nanomi BV has signed a definitive agreement for the acquisition.
VISUfarma B.V. is headquartered in Amsterdam, the Netherlands. It is a specialty pharmaceutical company focused on ophthalmology. VISUfarma has a commercial presence across major European countries, including Italy, the UK, Spain, Germany and France. The firm offers a complete portfolio of products in the areas of dry eye, glaucoma, eyelid hygiene, blepharitis, retinal health and highly focused nutraceuticals prescribed by ophthalmologists.
As of December 31, 2024, VISUfarma reported a consolidated turnover of €48.1 million and a net worth of €134.6 million, Lupin informed the exchanges.
"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 specialty franchise," the company informed on Monday.
The transaction is expected to be consummated by the end of calendar year 2025. However, it requires the approval of the National authorities for foreign direct investment in Germany and notification in Spain.
"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," the company said in its statement.
Lupin will finance the acquisition with existing cash on the balance sheet. The acquisition is expected to be accretive to Lupin's growth and margin profile, the company statement added.
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