Lupin Ltd. (LUPN.BO) to Buy Japanese Injectable Drugs Maker I'rom Pharma for Undisclosed Amount
11/17/2011 8:26:28 AM
Indian drugmaker Lupin will buy Japan's I'rom Pharmaceutical Co, its second buy in the country, to enter the generic injectables segment. The Mumbai-based Lupin had earlier bought Kyowa Pharmaceutical Industry Co in 2007. I'rom is a Tokyo-based speciality injectables drugmaker with annual sales of 5.36 billion yen ($69.7 million) for year ended March 2011, Lupin said in a statement without disclosing the deal value. I'rom Pharma, being acquired by Lupin's unit Kyowa, is a fully-owned subsidiary of I'rom Holdings Co, and has a significant presence in the fixed-rate treatment hospitals segment in Japan, where the government mandates clinics to offer low-cost healthcare services.