Pharmaceutical company Lupin announces that its subsidiary has signed an agreement to entirely take over Amsterdam-based VISUfarma BV for an enterprise value of 190 million euros.

The Mumbai-based drug maker announced that its wholly-owned subsidiary, Nanomi BV, has entered into a definitive agreement to acquire VISUfarma BV, which is a portfolio company of the global healthcare investment firm GHO Capital Partners LLP.

The purchase of VISUfarma, which has a wide range of eye health products and a solid commercial infrastructure, fits the company's strategy to grow its presence and business in Europe while enhancing its global specialty franchise.

Lupin will leverage VISUfarma's established commercial operations to enter the appealing ophthalmology market, which is seeing substantial global growth due to an aging population, rising rates of diabetes-related eye issues, and heightened awareness of preventive care, the company stated.

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VISUfarma's existing European activities will offer chances for market growth, a direct presence, and additional business diversification in key European nations, such as Italy, the UK, Spain, Germany, and France, it stated.

The firm's extensive range of more than 60 branded ophthalmology products based in Amsterdam will offer growth prospects to boost the drug maker’s expansion into the specialty sector across various regions, and is expected to fuel growth in Europe and other markets.

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"This acquisition strengthens our commitment to delivering innovative medicines to the patients and communities we serve. Beyond being immediately accretive, it also broadens our presence in Europe and further builds our specialty franchise in Ophthalmology," Lupin CEO Vinita Gupta says.

“With the integration of VISUfarma, Lupin will offer a complete portfolio of products in the areas of dry eye, glaucoma, eyelid hygiene, blepharitis, retinal health and highly focused nutraceuticals prescribed by ophthalmologists,” adds Vinita.

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"As part of Lupin's ophthalmology operations, we will build towards a global ophthalmology franchise with a commitment to advancing eye care and improving patient outcomes," Paolo Cioccetti, CEO Italy, VISUfarma adds.