Neopharma subsidiary buys Japanese injectables business

摘要

Indian pharma Lupin has entered into a definitive agreement to sell its Japanese injectables business through its Kyowa subsidiary(Kyowa Pharmaceutical Industry).The company will also sell all related assets in Japan to Neo ALA,a wholly owned subsidiary of Neopharma group,a UAE-based pharmaceutical manufacturer.Under the terms of the agreement,Lupin has agreed to sell all the issued and outstanding share capital in Kyowa Criticare to Neo ALA.The transaction is subject to customary closing conditions but has already been approved by the Board of Directors of Lupin.Suresh Nandiraju,COO of Neopharma,said:”This acquisition is synergistic and will strengthen our product offerings in the Japanese market.”This transaction does not involve or affect Kyowa's other operations,namely research,manufacturing,marketing and the distribution of oral solids and other dosage forms in Japan.