Lupin Limited — JV/Acquisition, 29-09-2025: Acquisition

Lupin's subsidiary Nanomi will acquire 100% of VISUfarma B.V., an ophthalmology specialist, for an enterprise value of €190 million, funded by existing cash. This strategic move expands Lupin's European footprint, establishing direct operations across major markets like Italy, UK, and Germany. VISUfarma's portfolio of 60+ branded eye health products (dry eye, glaucoma) enhances Lupin's specialty franchise and offers growth opportunities in Europe and beyond. The deal is expected to boost Lupin's sales growth and EBITDA margin, serving as a cornerstone for its global ophthalmology expansion.