Drug maker Lupin said its Japanese subsidiary Kyowa has agreed to pay about $150 million to acquire a set of 21 products from Japanese drug maker Shionogi. The deal, to be effective from December 1, is expected to further consolidate Lupin’s ranking in the steadily growing Japanese generic drugs market. The Shionogi products had total sales of $90 million.
ET had reported in its July 27 edition that the Indian drug maker is in discussion with Shionogi. The report had named another Japanese firm Astellas, which was engaged in separate talks for sale of a few products. The deal with Shionogi is subject to certain closing conditions and regulatory approvals, including transfer of marketing authorisation of the products to Kyowa. “The new branded product portfolio has a strong fit with Lupin’s Kyowa business, as it adds depth and reach to its current CNS (central nervous system) portfolio and other therapy areas,” Lupin managing director Nilesh Gupta said in a statement.