Lupin strengthens its global specialty ophthalmology business with acquisition of VISUfarma from GHO Capital

New Delhi: Nanomi B.V., wholly owned subsidiary of the pharma major Lupin Limited has signed a definitive agreement for the acquisition of VISUfarma B.V. (VISUfarma), a portfolio company of global healthcare specialist investor GHO Capital Partners LLP (GHO).

The acquisition of VISUfarma, with its broad portfolio of innovative eye health products and established commercial infrastructure, aligns with Lupin’s strategy to expand its European business and footprint and to advance the company’s global specialty franchise.

By integrating VISUfarma’s established commercial operations, Lupin will tap into the attractive ophthalmology market, which is experiencing significant global growth driven by an aging global population, the increasing incidence of diabetes-related eye complications, and growing awareness of preventive care.

VISUfarma’s established European operations will provide market expansion opportunities, direct presence and further business diversification across major European countries, including Italy, the UK, Spain, Germany and France. In addition, VISUfarma’s broad portfolio of 60+ branded ophthalmology products will present growth opportunities to accelerate Lupin’s expansion into the specialty segment across regions, and is projected to drive growth in Europe as well as in other markets.

Vinita Gupta, CEO of Lupin, said, “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.”

With the integration of VISUfarma, Lupin will offer a complete portfolio of products in the areas of dry eye, glaucoma, eyelid hygiene, blepharitis, retinal health and highly focused nutraceuticals prescribed by ophthalmologists.

Lupin will finance the acquisition with existing cash on balance sheet. The acquisition is expected to be accretive to Lupin’s growth and margin profile. The transaction is projected to close by the end of 2025, subject to certain closing conditions.

Andrea Ponti, Managing Partner and Mike Turner, Partner at GHO Capital, added, “Working closely with the VISUfarma management team, GHO Capital has transformed the company from a domestic Italian ophthalmic player into a unique pan-European business with established operations across key markets, a robust product portfolio covering the main disease areas impacting both the front- and back-of-the-eye, and the infrastructure to continue its growth trajectory. We are pleased to have found a partner to help grow VISUfarma further and leverage its strengths to build a global ophthalmology franchise.”

Paolo Cioccetti, CEO Italy, 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. We want to express our sincere gratitude to GHO Capital for their unwavering support and strategic guidance. Their investment and expertise have been instrumental in transforming VISUfarma into a pan-European leader of ophthalmology pharmaceuticals.”

Centerview Partners UK LLP served as exclusive financial advisor to Lupin and Herbert Smith Freehills Kramer LLP served as legal counsel to Lupin.

Stifel acted as exclusive financial advisor to GHO Capital. Slaughter and May, Giliberti, Triscornia e Associati and Norton Rose Fulbright acted as legal counsel and Deloitte served as financial and tax advisor to GHO Capital.