Lupin Expands European Footprint with €190 Million Acquisition of VISUfarma
Lupin's subsidiary Nanomi B.V. is acquiring VISUfarma B.V., a Netherlands-based specialty pharmaceutical company, for €190 million. VISUfarma offers over 60 branded ophthalmology products across major European countries. The acquisition aligns with Lupin's strategy to expand its European business and global specialty franchise in ophthalmology. VISUfarma's revenue was €48.10 million in 2024. The deal, financed through existing cash, is expected to be accretive to Lupin's growth and margin profile. Completion is anticipated by the end of 2025, subject to regulatory approvals.

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Lupin Limited , a global pharmaceutical leader, has announced a significant move to strengthen its presence in the European ophthalmology market. The company's wholly-owned subsidiary, Nanomi B.V., has entered into a definitive agreement to acquire VISUfarma B.V., a Netherlands-based specialty pharmaceutical company, for an enterprise value of €190 million.
Strategic Expansion into European Ophthalmology
The acquisition of VISUfarma aligns with Lupin's strategy to expand its European business and advance its global specialty franchise in ophthalmology. VISUfarma, founded in 2016, has established a strong presence across major European countries, including Italy, the UK, Spain, Germany, and France.
VISUfarma's Portfolio and Performance
VISUfarma offers a comprehensive portfolio of over 60 branded ophthalmology products, covering key areas such as:
- Dry eye treatments
- Glaucoma care
- Eyelid hygiene
- Blepharitis management
- Retinal health solutions
- Specialized nutraceuticals
The company has demonstrated consistent financial performance, with revenues of:
Year | Revenue (€ million) |
---|---|
2024 | 48.10 |
2023 | 42.50 |
2022 | 43.90 |
Financial Details and Funding
Lupin will finance the acquisition through existing cash on its balance sheet. The transaction, valued at €190 million enterprise value, is expected to be accretive to Lupin's growth and margin profile.
Market Expansion and Growth Opportunities
This strategic move will provide Lupin with:
- Direct presence in major European markets
- Opportunities for business diversification
- A platform to accelerate expansion into the specialty ophthalmology segment across regions
Regulatory Approvals and Timeline
The acquisition requires approval from national authorities for foreign direct investment in Germany and notification in Spain. Lupin anticipates completing the transaction by the end of 2025, subject to certain closing conditions.
Management Perspectives
Vinita Gupta, CEO of Lupin, expressed enthusiasm about the acquisition, stating, "We are delighted to welcome VISUfarma into the Lupin family. This acquisition strengthens our commitment to delivering innovative medicines to the patients and communities we serve. Beyond being immediately accretive, it also broadens our presence in Europe and further builds our specialty franchise in Ophthalmology."
Paolo Cioccetti, CEO Italy of VISUfarma, added, "Combining with Lupin represents an exciting new chapter for VISUfarma. As part of Lupin's ophthalmology operations, we will build towards a global ophthalmology franchise with a commitment to advancing eye care and improving patient outcomes."
Market Outlook
The global ophthalmology market, currently valued at approximately €28 billion, is experiencing significant growth driven by an aging global population, increasing incidence of diabetes-related eye complications, and growing awareness of preventive care. Lupin's acquisition of VISUfarma positions the company to capitalize on these trends and establish a strong presence in the attractive and growing European ophthalmology market.
This strategic acquisition marks a significant step for Lupin in expanding its specialty pharmaceutical portfolio and strengthening its position in the European healthcare landscape.
Historical Stock Returns for Lupin
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
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-0.39% | +2.80% | +1.15% | -5.83% | -9.62% | +90.10% |