Lupin Ltd. secured USFDA approval for its generic risperidone extended-release injectable suspension, a treatment for schizophrenia and bip...

Lupin MD Nilesh Gupta said the company made 4½ x the initial investment it made in Japan.

The deal proceeds will be utilised to strengthen company's balance sheet.

Lupin had also increased research and development spending to Rs 958.28 crore in FY'14 as compared to Rs 770.85 crore in the FY'13.

Nanomi has a rich talent pool of scientists who would be backed by Lupin's global R&D and manufacturing teams, the Mumbai-based firm said.

Shares of drug major Lupin gained 4.5 per cent today after its third-quarter profit rose and the company announced an acquisition.

Lupin rallied as much as 4.8% in trade on Monday in a weak market, after the drugmaker reported a 42% growth in its quarterly net profit.