Mumbai-based Lupin Ltd will acquire Tokyo-based I’rom Pharmaceuticals (IP) for an undisclosed amount to expand its footprint in the country. Kyowa Pharmaceutical, the Japanese subsidiary of Lupin, will acquire 100 % shares of the company and its annual sales for the year ended March 2011 was 5.36 billion yen ($69.7 million). Based out of Tokyo, IP specialises in supplying injectables to the reimbursement hospital segment, known as DPC. There are currently over 1,400 DPC hospitals in Japan, covering 35 per cent of all hospital beds nationwide, and a market size of $11-billion. IP’s strong presence in the DPC hospital segment in Japan, through its line of injectable products, is an ideal fit with the company’s existing oral business portfolio in Japan.
