Indian pharma company Lupin has acquired 80 per cent stake in Kyowa Pharmaceutical Industry (Kyowa), one of the top 10 generic pharmaceutical companies in Japan, for an undisclosed amount.
This acquisition marks Lupin's foray into the Japanese branded market in-line with aspirations to build business globally.
The company will now focus on specialty products in Japan; it is open to inorganic opportunities, especially in India.
Once a difficult market to crack, in recent years, China has relatively opened up its drug market, enacting reforms and speeding up approval time.
The rally in index heavyweight ITC has boosted the sentiment across the board.
Under MRA, Japan is to recognise Indian medical degrees and treat the country's doctors and other medical personnel on par with its own.