Lupin Ltd. to Buy Japanese Injectable Drugs Maker I'rom Pharma for Undisclosed Amount
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.