Lupin eyes 3rd japan buy for Rs. 550-1,100 cr | business | Hindustan Times
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Lupin eyes 3rd japan buy for Rs. 550-1,100 cr

The country's third-largest pharmaceutical company by market value, Lupin India, is eyeing Japan for its third acquisition, likely to be in the range of $100-200 million (Rs. 550-1,100 crore).

business Updated: Aug 22, 2012 21:32 IST

The country's third-largest pharmaceutical company by market value, Lupin India, is eyeing Japan for its third acquisition, likely to be in the range of $100-200 million (Rs. 550-1,100 crore).

Lupin, which acquired two companies in Japan earlier, is looking to strengthen its position in the world's second-largest pharmaceutical market.

"Japan is a market where we remain interested in acquiring even more," said Nilesh Gupta, group president and executive director, Lupin. "We are looking at more opportunities there."

Japan, whose pharmaceutical market is pegged at around $75 billion, contributes 12% to Lupin's revenues.

The company which witnessed gross sales of around Rs. 7,000 crore in 2011-12, had made its first acquisition in Japan by buying Kyowa Pharmaceutical in 2007 and I'rom Pharmaceutical in November 2011.

The acquisition is unlikely to be a big one as company is not comfortable with big-ticket buys. "There is an organisational reluctance to a very large ticket acquisition," said Gupta.