India's Lupin to buy major stake in Kyowa

Mumbai, India-based drugmaker Lupin says it has reached agreement to acquire a significant majority stake in Japanese generics firm Kyowa Pharmaceuticals, for an undisclosed amount, although the Nikkei Weekly says this is around 10.0 billion yen ($85.0 million).

Kyowa, with sales of 7.4 billion yen for the fiscal year ended March, develops, manufacturers and markets a range of generics in Japan, with a rich portfolio in psychiatry and neurological therapeutic categories, as well as in the areas of cardiovascular, respiratory, allergic and digestive system drugs. Uptake of generics in Japan is still fairly low, but there are strong government moves to change this situation Marketletters passim.