Lupin looks to sell Japanese arm Kyowa for $600 million

Kyowa grew a modest 5% over the year-ago level. Its net profit halved to Rs 68.6 crore constituting 11.3% of Lupin’s consolidated profit. "Pricing pressure in Japan has hit the company very hard, especially last year. Since then, gross margins have dropped from 55% in FY18 to 31% in FY19," Lupin MD Nilesh Gupta said.

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