Shionogi, like other big Japanese drug makers, is increasingly focusing on drug discovery and branded portfolio, and has been offloading generic drugs. With this acquisition, Lupin will rank sixth among generic companies in Japan. Other Indian rivals of Lupin have struggled to crack the Japanese market, which stands second only to the US with a size of $110 billion. Hyderabad: Lupin Ltd, India’s third largest drug maker, on Tuesday said it has agreed to buy a portfolio of 21 generic brands from Osaka-based Shionogi & Co. Ltd for ¥15.4 billion yen (Rs.10.08 billion) or $150 million, to strengthen its presence in the world’s second largest pharmaceutical market. But unlike the US, which is fast to adopt generic drugs, consumers in Japan remain brand conscious, making it tough for Indian generic makers.

Source: Mint August 02, 2016 08:34 UTC