Lupin Ltd acquired a majority stake in Japanese generic drug maker Kyowa Pharmaceutical Industry Co Ltd. as a significant part of our strategy to tap leading global markets
Indian drug maker Lupin Ltd acquired a majority stake in Japanese generic drug maker Kyowa Pharmaceutical Industry Co Ltd. It did not give financial details but CNBC-TV 18, citing unidentified sources, said Lupin paid $60 million for the acquisition. Lupin's shares were up 2.7 percent at 601 rupees at 0716 GMT in a firm Mumbai market. Kyowa is ranked among the top 10 generics companies in the world. Japanese companies such as Takeda, Eisai Pharma, Mitsubishi Pharma, and Astellas already dominate the Japanese drug market, resulting in considerable existing competition.
Kyowa, with sales of 7.4 billion yen for the year ended March 2007, develops, manufactures and markets a range of generic products in Japan. The company makes drugs for psychiatry and neurological therapeutic categories, and in cardiovascular, respiratory and allergies and digestive systems. The company has a strong brand identity in Japan's generics market through its brand AMEL. Headquartered in Osaka, Kyowa is promoted by the Sugiura family. It has manufacturing and R&D facilities in Sanda City, Hyogo Prefecture. Kyowa has major strengths in product development, manufacturing and marketing of its products nationwide.
Lupin’s growth has been fuelled by acquisitions -. Boehringer Manheim, Bayer, Uji Pharmaceutical and MG Pharma. Lupin will be able to add significant value through its strengths in R&D and global marketing leading to major synergies. This acquisition is a signal of our long-term commitment to the Japanese healthcare market.