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Lupin to sell its Japanese Injectables Business to Abu Dhabi based Neopharma Group

Capital Market 

Lupin announced that it has entered into a definitive agreement through its Japanese subsidiary Kyowa (Kyowa Pharmaceutical Industry Co.) for the sale of its Japanese Injectables business and related assets in Japan to neo ALA Co., a wholly owned subsidiary of Neopharma group, the UAE's largest pharmaceutical manufacturer headquartered in Abu Dhabi.

The plant and associated facilities are based out of Atsugi, Japan and has been engaged in sales and contract manufacturing of injectable products to meet various medical needs.

Under the terms of the agreement, Lupin has agreed to sell all the issued and outstanding share capital in Kyowa Criticare Co. to neo ALA Co.

The transaction is subject to customary closing conditions and has been approved by the Board of Directors of Lupin. This transaction does not involve or affect the other operations of Kyowa, namely research, manufacturing, marketing and distribution of oral solids and other dosage forms in Japan.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 22 2019. 11:04 IST