Lupin signs definitive agreement to acquire VISUfarma

Lupin’s subsidiary, Nanomi, has signed a definitive agreement to acquire VISUfarma, a portfolio company of GHO Capital Partners LLP. Lupin notes that the acquisition will help the company expand its European business, as well as advance the company globally.

VISUfarma is an Italian company focused on ophthalmology, formed in 2016 through Visufarma SpA and Nicox SA's European commercial activities. According to the company, it generated €48m (approximately $56.3 million) in 2024 across Italy. Since 2016, GHO Capital Partners has owned the company fully.

GHO Capital is a health care investment advisor in London that “targets pan-European and transatlantic internationalization to build market-leading businesses of strategic global value.”¹

Lupin notes that the acquisition will help to strengthen the company by “integrating VISUfarma’s established commercial operations.” According to Lupin, VISUfarma holds a portfolio of over 60 branded ophthalmology products.

Vinita Gupta, CEO of Lupin, and Paolo Cioccetti, CEO Italy at VISUfarma, commented on the acquisition in a press release from Lupin.¹

“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,” said Gupta.

“Combining with Lupin represents an exciting new chapter for VISUfarma. As part of Lupin’s ophthalmology operations, we will build toward a global ophthalmology franchise with a commitment to advancing eye care and improving patient outcomes,” added Cioccetti.

With the conclusion of the acquisition, Lupin notes the company will hold a portfolio in the areas of dry eye, glaucoma, eyelid hygiene, blepharitis, retinal health, and more. The company plans to finance the deal with “existing cash on the balance sheet” and is expected to close by the end of 2025.

Lupin in 2025

Lupin had a busy summer in 2025, announcing the approval of its abbreviated new drug application for loteprednol etabonate ophthalmic gel, 0.38%, a corticosteroid for the treatment of postoperative inflammation and pain following ocular surgery.²

Additionally, the company launched its loteprednol etabonate ophthalmic suspension, 0.5%, in the United States in July, which is a bioequivalent to Lotemax ophthalmic suspension, 0.5%, of Bausch + Lomb. It is indicated for the treatment of steroid-responsive inflammatory conditions of the palpebral and bulbar conjunctiva, cornea, and anterior segment of the globe when the inherent hazard of steroid use is accepted to obtain an advisable diminution in edema and inflammation.³

Lastly, Lupin and Sandoz Group AG entered into an agreement where Sandoz will market and commercialize Lupin’s biosimilar ranibizumab across multiple regions. Ranibizumab is a recombinant humanized IgG1 monoclonal antibody fragment that binds to and inhibits VEGF-A, indicated for the treatment of patients with neovascular (wet) age-related macular degeneration, macular edema following retinal vein occlusion, diabetic macular edema, proliferative diabetic retinopathy, and choroidal neovascularization.⁴

References

1. Lupin strengthens its global specialty ophthalmology business with acquisition of 
   VISUfarma from GHO Capital. Press release. Lupin Limited. September 29, 2025. Accessed October 1, 2025. https://www.lupin.com/lupin-strengthens-its-global-specialty-ophthalmology-business-with-acquisition-of-visufarma-from-gho-capital/

2. Filkins K. Lupin receives FDA approval for loteprednol etabonate ophthalmic gel, 0.38%. Ophthalmology Times. July 3, 2025. Accessed October 1, 2025. https://www.ophthalmologytimes.com/view/lupin-receives-fda-approval-for-loteprednol-etabonate-ophthalmic-gel-0-38-

3. Harp MD. Lupin launches loteprednol etabonate ophthalmic suspension, 0.5%, in the United States. Ophthalmology Times. July 19, 2025. Accessed October 1, 2025. https://www.ophthalmologytimes.com/view/lupin-launches-loteprednol-etabonate-ophthalmic-suspension-0-5-in-the-united-states

4. Harp MD. Lupin and Sandoz sign licensing deal for biosimilar ranibizumab across multiple regions. Ophthalmology Times. August 13, 2025. Accessed October 1, 2025. https://www.ophthalmologytimes.com/view/lupin-and-sandoz-sign-licensing-deal-for-biosimilar-ranibizumab-across-multiple-regions