Miscellaneous

Lupin divests Japanese subsidiary Kyowa Criticare to Neopharma group

ANI | August 22, 2019 12:01 PM
Lupin is the eighth largest generics pharmaceutical company by revenues globally.

Mumbai (Maharashtra) [India], Aug 22 (ANI): Pharma major Lupin Ltd said on Thursday that it has entered into a definitive agreement for the sale of its Japanese injectables business and related assets to Neo Ala Co Ltd, a wholly-owned subsidiary of Neopharma Group which is the UAE's largest pharmaceutical manufacturer headquartered in Abu Dhabi.

The plant and associated facilities are based out of Atsugi in Japan. It has been engaged in sales and contract manufacturing of injectable products to meet various medical needs.

Under the terms of the agreement, Lupin has agreed to sell all the issued and outstanding share capital in its subsidiary Kyowa Criticare Co Ltd to Neo Ala. The transaction is subject to customary closing conditions and has been approved by the board of directors of Lupin.

The transaction does not involve or affect the other operations of Kyowa, namely research, manufacturing, marketing and distribution of oral solids and other dosage forms in Japan.

"The divestiture of our injectables business is a step towards streamlining our Japan operations and bringing a sharper focus on building a hybrid (brand/generics) pharma model," said Fabrice Egros, President of Lupin Asia Pacific and Representative Director of Kyowa.

Suresh Nandiraju, Chief Operating Officer of Neopharma, said: "This acquisition is synergetic and will strengthen our product offerings in the Japanese market, a focus market for Neopharma group for driving long-term, sustainable growth by leveraging our global presence."

Lupin is the eighth largest generics pharmaceutical company by revenues globally. (ANI)

Have something to say? Post your comment
Must Read
Punjab CM asks DCs to prioritise core sectors of education, health, water & power for development
Punjab CM asks DCs to prioritise core sectors of education, health, water & power for development
A theft in the commission agents’ shop in Jaitu, town, residents allege police inaction, claim the frequent thefts are happening
A theft in the commission agents’ shop in Jaitu, town, residents allege police inaction, claim the frequent thefts are happening
Muktsar police hold an awareness seminar against drugs in village Kotli Ablu, 18 cases of having the property of drug peddlers attached forwarded to Delhi
Muktsar police hold an awareness seminar against drugs in village Kotli Ablu, 18 cases of having the property of drug peddlers attached forwarded to Delhi
Babu Singh Panjawa isn’t SC commission member, people shouldn’t be misled: Chairperson Tejinder Kaur
Babu Singh Panjawa isn’t SC commission member, people shouldn’t be misled: Chairperson Tejinder Kaur
Commissionerate Police issue various ban orders
Commissionerate Police issue various ban orders
Punjab Lokpal endorses Advocate Sandhu’s Book ‘Singapore-Indian Legal System-A Comparative Legal Study’
Punjab Lokpal endorses Advocate Sandhu’s Book ‘Singapore-Indian Legal System-A Comparative Legal Study’
From 'Son of Anarchy' to 'Son of Delhi': How AAP Overhauled Brand Kejriwal to Win Delhi for 3rd Time
From 'Son of Anarchy' to 'Son of Delhi': How AAP Overhauled Brand Kejriwal to Win Delhi for 3rd Time
District level approval committee clears two investment proposals worth Rs 4.83 crores for Jalandhar under business first portal
District level approval committee clears two investment proposals worth Rs 4.83 crores for Jalandhar under business first portal
DC dedicates two new Fard Kendras constructed at a cost of Rs 8 lakh to people
DC dedicates two new Fard Kendras constructed at a cost of Rs 8 lakh to people
Punjab CM orders ban on movie 'Shooter' based on life of gangster Sukha Kahlwan
Punjab CM orders ban on movie 'Shooter' based on life of gangster Sukha Kahlwan
Mega block between Mumbai Central and Churchgate till 6.15 am today
Mega block between Mumbai Central and Churchgate till 6.15 am today
Punjab DGP sets up all-women SIT to investigate Mohali gang-rape case
Punjab DGP sets up all-women SIT to investigate Mohali gang-rape case