Lupin acquires Japanese drugmaker I'rom Pharma

Indian drugmaker Lupin (LOPN: BO) has entered into an agreement with Japanese health care provider I’rom Holdings (IH) to acquire up to 100% of the outstanding shares of its subsidiary I’rom Pharmaceutical. The transaction, financial terms of which are not being disclosed, is being handled via Lupin’s Japanese subsidiary Kyowa Pharmaceuticals, which it acquired in 2007, and is aimed at providing entry into Japan’s injectable generics market.

Established in 1947, I’rom Pharma is a specialty injectables company headquartered in Tokyo with sales of 5.36 billion yen ($69.7 million) for the fiscal year ended March. It has a significant presence in the fixed-rate treatment (DPC) hospitals sector in Japan. Injectable products enjoy a significant usage in the DPC hospital segment, and generic injectable penetration is slated to grow significantly in future. There are currently over 1,400 DPC hospitals in Japan, covering over 35% of all hospital beds nationwide, and a market size of $11 billion, says Lupin.

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