Lupin to acquire Dutch ophthalmology firm VISUfarma

Drugmaker Lupin will acquire Dutch firm VISUfarma in a transaction that pegs the enterprise value of the Amsterdam-based specialty pharmaceutical company focused on ophthalmology at euro 190 million.

A portfolio company of global healthcare specialist investor GHO Capital Partners LLP, VISUfarma offers products in the areas of dry eye, glaucoma, eyelid hygiene, blepharitis, retinal health and nutraceuticals. It has a commercial presence across major European countries, including Italy, the UK, Spain, Germany and France, Lupin said on Monday (September 29), announcing signing of a definitive agreement by subsidiary Nanomi B.V., for the acquisition.

VISUfarma’s operations will provide market expansion opportunities, direct presence and further business diversification across major European countries. The portfolio of more than 60 branded ophthalmology products will present growth opportunities to accelerate expansion into the specialty segment across regions and projected to drive growth in Europe as well as in other markets, Lupin said.

The transaction, based on euro 190 million VISUfarma’s enterprise value, will be subject to customary closing conditions and expected to be completed by December. Lupin will finance the acquisition through internal accruals. “Beyond being immediately accretive, it also broadens our presence in Europe and further builds our specialty franchise in Ophthalmology, Lupin CEO Vinita Gupta said.

The acquisition aligns with Lupin’s strategy to expand European business and footprint and advance the company’s global specialty franchise. By integrating VISUfarma’s established commercial operations, Lupin said it 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.

GHO Capital has transformed VISUfarma 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, said Andrea Ponti, Managing Partner and Mike Turner, Partner at GHO Capital. VISUfarma had clocked consolidated revenue of euro 48.1 million and net worth of euro 134.6 million in 2024.