Lupin Limited has informed the Exchange that Nanomi B.V., the Netherlands, a wholly owned subsidiary of the Company in Netherlands, has entered into a definitive agreement to acquire the entire share capital of VISUfarma B.V., headquartered in Amsterdam, the Netherlands.
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Lupin's Dutch wholly owned subsidiary Nanomi B.V. has signed a definitive agreement to acquire 100% of VISUfarma B.V., an Amsterdam-based specialty pharmaceutical company focused on ophthalmology, for an enterprise value of €190 million in cash. VISUfarma has a commercial presence across major European markets including Italy, UK, Spain, Germany and France, with a portfolio of 60+ branded eye care products covering dry eye, glaucoma, eyelid hygiene, blepharitis, retinal health and nutraceuticals. VISUfarma reported revenues of €48.1 million in CY24, up from €42.5 million in CY23, with an estimated €54 million in CY25 and net worth of €134.6 million. The deal is expected to close by end of CY2025, subject to German FDI approval and Spanish notification, and will be funded through existing cash on balance sheet. Lupin stated the deal is immediately accretive to growth and EBITDA margins, and serves as the cornerstone for building its global specialty ophthalmology franchise.
Positive for shareholders — strengthens Lupin's specialty portfolio and gives it a direct pan-European footprint in the fast-growing ophthalmology market (~€28B globally, 6% YoY growth). Funded entirely from existing cash, so no equity dilution, and management expects it to be accretive to both sales growth and EBITDA margins from the start.