Lupin Limited has successfully completed its strategic acquisition of VISUfarma B.V., Netherlands, through its wholly owned subsidiary Nanomi B.V. The transaction became effective on April 01, 2026, following the completion of all customary closing conditions. This acquisition significantly expands Lupin's eye care portfolio to over 60 branded products while strengthening its European market presence.

Acquisition Details and Strategic Impact

The pharmaceutical company informed stock exchanges that Nanomi B.V., its Netherlands-based wholly owned subsidiary, has acquired the entire share capital of VISUfarma B.V. from GHO Capital Partners LLP. This acquisition makes VISUfarma and its wholly owned subsidiaries part of the Nanomi group structure, bringing substantial eye care capabilities to Lupin's portfolio.

Eye Care Portfolio Expansion

The acquisition of VISUfarma represents a significant expansion of Lupin's ophthalmology segment, adding over 60 branded products to its existing eye care portfolio. The integration spans multiple therapeutic areas including dry eye, glaucoma, eyelid hygiene, blepharitis, retinal health, and specialty nutraceuticals. VISUfarma generated €53 million in revenue across Italy, the UK, Spain, Germany, France and certain international markets.

European Market Strengthening

VISUfarma's strong commercial footprint across key European markets is strengthened by a highly experienced team with deep ophthalmology expertise, trusted relationships, and strong local market insight. The company, founded through the combination of Italian company Visufarma SpA and European commercial activities of Nicox SA, enhances Lupin's ability to address growing global demand for innovative eye care solutions.

Management Commentary

Vinita Gupta, CEO of Lupin, stated that the VISUfarma acquisition marks a very exciting milestone for the company, adding a differentiated portfolio of more than 60 innovative eye health products supported by an established commercial infrastructure. She emphasized that beyond being immediately accretive, this strategic acquisition will expand Lupin's presence across Europe and accelerate the build-out of its specialty franchise.

Paolo Cioccetti, CEO Italy at VISUfarma, expressed enthusiasm about embarking on this next chapter with Lupin, citing their global expertise, vision, and commitment to ophthalmology as making them the ideal partner to take VISUfarma to the next level.

Corporate Structure and Compliance

With this acquisition, VISUfarma B.V. and its wholly owned subsidiaries have become wholly owned subsidiaries of Nanomi B.V., which is itself a wholly owned subsidiary of Lupin Limited. The company has fulfilled all disclosure requirements under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The completion of this acquisition represents a significant milestone in Lupin's international expansion strategy, adding VISUfarma's operations, capabilities, and extensive branded product portfolio to its global pharmaceutical business focused on improving patient health outcomes.

Lupin Limited has announced a strategic acquisition to strengthen its presence in the Philippines pharmaceutical market. The company's wholly owned subsidiary, Nanomi B.V., plans to acquire minority shareholding in Multicare Pharmaceuticals Philippines, Inc. (MPPI), with the goal of taking full ownership by May 2026.

Transaction Structure

The acquisition involves the purchase of 11,794,497 shares from existing shareholders, representing 43.38% of MPPI's total outstanding paid-up shares. The transaction is structured as a cash consideration deal with a maximum value of USD 39.6 million or equivalent currency.

About Multicare Pharmaceuticals Philippines

MPPI, incorporated on November 09, 2001, is headquartered in Philippines and operates in the pharmaceutical sector. The company is engaged in trading, importing, marketing, and distributing pharmaceutical products and medical devices. Currently, Nanomi holds 56.28% stake in MPPI, and this acquisition will increase its shareholding to 99.66%, positioning the company to achieve complete ownership.

Financial Performance Overview

MPPI has demonstrated business operations with revenue performance tracked over recent years:

Strategic Benefits and Market Position

The acquisition is expected to deliver multiple strategic benefits for Lupin's operations in the Philippines market. The transaction will strengthen the company's market standing through its wholly owned subsidiary Nanomi and enable substantial integration of MPPI's operations. The move provides strategic flexibility, allowing Lupin to unify its emerging-market businesses and unlock long-term value in the region.

Regulatory Framework

The transaction falls under the purview of related party transactions, with requisite approval from the Audit Committee already obtained. The acquisition will be conducted on an arm's length basis, with a valuation report from Ernst & Young Merchant Banking Services LLP determining the fair value of MPPI shares. No governmental or regulatory approvals are required for this acquisition, and no promoter, promoter group, or group companies have any interest in the proposed transaction.