Lupin to make second foray into Japan's generic market

Indian drugmaker Lupin is planning a second acquisition in Japan, where it became the seventh largest generics player after buying local firm Kyowa Pharmaceuticals in 2007 for around $100 million, according to a report from Livemint, a part of HT Media

Though unnamed, the target company is said to be in the generic injectable drugs segment, and will likely be valued in the same range as Kyowa, according to a person familiar with the development. The new deal will be signed in six to eight months, the person told Livemint.

'We are scouting for an acquisition in the injectable segment as the hospital segment is one area that we are interested,' confirmed Lupin's chief financial officer S Ramesh, adding that the firm's balance sheet is strong enough to fund a strategic acquisition through either internal accruals or debt, if need be. However, he told Livemint, 'it will be difficult to put a number or the size of acquisition that we are looking for in that market.'