Indian drugmaker Lupin Ltd has agreed to purchase 21 branded drugs from Japan's Shionogi & Co. Ltd for 15.4 billion yen (about $150 million) to expand in the world's second-largest pharmaceutical market.
Lupin Pharmaceuticals, Inc. is the U.S. wholly owned subsidiary of Lupin Limited, which is among the top five pharmaceutical companies in India.
Shionogi & Company, Limited is a Japanese pharmaceutical company best known for developing Crestor. Medical supply and brand name also uses Shionogi. It was founded in March 17, 1878 and is headquartered in Osaka, Japan. Isao Teshirogi, Ph.D. is CEO and President of the company
Collectively for 21 products these two companies is having annual sales of $90 million the two companies said in separate statements. The drugs cover therapy areas such as central nervous system (CNS), oncology, cardiovascular and anti-infectives.
The company said the deal will help its Japanese subsidiary, Kyowa Pharmaceutical Industry Co. Ltd, become the sixth-largest generic drugmaker in the country.
The deal would be effective December 1, 2016, subject to regulatory approvals, the company said.
Other Indian pharmaceuticals companies have also been trying to increase their Japanese footprint in an attempt to cater to the country’s ageing population. In March 2016, Sun Pharmaceuticals acquired 14 prescription drugs from Novartis in Japan for $293 million.
August 06, 2016