What VISUfarma does

VISUfarma B.V. is a European specialty pharmaceutical company focused exclusively on ophthalmology, headquartered in Amsterdam-Duivendrecht, Netherlands, with regional offices in Madrid and London. Founded in 2016 from the combination of Italian Visufarma SpA and France-headquartered Nicox SA's European commercial activities, the company built a portfolio of over 60 branded products spanning dry eye, glaucoma, eyelid hygiene and blepharitis, retinal health, ocular allergies, and specialty nutraceuticals. Key product lines include VisuXL/VisuXL Gel (cross-linked hyaluronic acid ocular lubricants with Coenzyme Q10), VisuEVO (vitamin D and phospholipid-based preservative-free tears), VisuECTOINE (preservative-free triple-action allergy drops), TREHAPAN (trehalose, hyaluronic acid, D-panthenol combination), the Xailin range (hyaluronic acid lubricants including Xailin Night), MeiboPatch (reusable thermal eye mask), COQUN OS (CoQ10 supplement using patented MINIACTIVES controlled-release technology), and VISUCOMPLEX Plus (antioxidant supplement for retinal health).\n\nThe business model is B2B2C pharmaceutical product sales: VISUfarma owns the product licenses and brands, manufactures or sources formulations from CDMOs, and distributes through pharmacy and healthcare-retail channels across core European markets (Italy, UK, Spain, Germany, France) and through exclusive distribution partners in 20+ additional countries. Underlying technology consists of proprietary formulation know-how: worldwide patents covering the use of CoQ10 in ophthalmology, cross-linked hyaluronic acid (reticulated HA) delivering up to 12-hour hydration, Novelia preservative-free multi-dose delivery systems, and MINIACTIVES modified-release technology for nutraceuticals. Pricing is set at national levels, channel-driven through pharmacies rather than direct-to-consumer, with certain products on national reimbursement lists (e.g., Xailin Night on the French LPP list at €5.32 TTC).\n\nAcquired by India's Lupin Limited in April 2026 for €190 million (announced September 2025), VISUfarma generated €53 million in revenue in 2025 (up from €48 million in 2024) and operates with 101–250 employees. The company is now positioned as Lupin's European specialty ophthalmology platform, leveraging its distribution infrastructure, product portfolio, and proprietary technology to build out Lupin's specialty care franchise in Europe.

Name

VISUfarma

Legal name

VISUfarma B.V.

Website

https://visufarma.com

Company type

Private

Founded year

2016

Operating status

Acquired

Headcount range

101–250 employees

Short description

VISUfarma is a European specialty pharmaceutical company focused on ophthalmology, marketing 60+ branded products for dry eye, glaucoma, eyelid hygiene, retinal health, and ocular allergy through pharmacies and distributors in core European markets and 20+ additional countries; it was acquired by India's Lupin Limited in April 2026 for €190 million after generating €53 million in 2025 revenue.

Ownership category

akta.pro rank

Product category

Ophthalmic Specialty Pharmaceuticals

NAICS

Ophthalmic Goods Manufacturing (339115), Drugs and Druggists' Sundries Merchant Wholesalers (424210), Optical Goods Retailers (45613)

SIC

Pharmaceutical Preparations (2834), Surgical & Medical Instruments & Apparatus (3841), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Ophthalmology Specialty Pharmaceuticals (HLAIACAK)

akta.pro secondary industries

Ophthalmology Pharmaceuticals (HLAIAAAL), Ocular Drug Delivery Devices (Eye Droppers/Inserts) (HLAHAIAL), Specialty Condition Supplements (Sleep, Stress, Heart, Joint, Gut, Immunity) (CRADAGAE)

Keywords

• Ophthalmic pharmaceuticals
• Ocular lubricants
• Dry eye treatments
• Eyelid hygiene products
• Retinal health supplements

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Pharmaceutical Product Sales: VISUfarma generates revenue through the sale of branded ophthalmic pharmaceutical products including dry eye treatments, glaucoma medications, eyelid hygiene products, ocular lubricants, and specialty nutraceuticals distributed through pharmacies, healthcare providers, and retail channels across Europe.
2. International Distribution: Revenue from exclusive distribution agreements covering 20+ countries worldwide where VISUfarma products are sold through local distribution partners.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

VISUfarma develops, manufactures, and distributes branded ophthalmic specialty pharmaceutical products across Europe. The portfolio spans ocular lubricants (artificial tears and gels), anti-allergy eye drops, eyelid hygiene and blepharitis products, medical devices (thermal eye masks), food supplements for retinal health, and glaucoma co-adjuvant therapies. Products are sold under brands such as VisuXL, VisuEVO, VisuECTOINE, TREHAPAN, Xailin, MeiboPatch, COQUN, and VISUCOMPLEX Plus.

Product overview

VISUfarma is a European specialty pharmaceutical company focused on ophthalmology, offering over 60 branded products across eye health. The portfolio includes prescription and OTC pharmaceutical products (ocular lubricants, anti-allergy drops, glaucoma treatments), medical devices (thermal eye masks, eyelid hygiene wipes), and food supplements for retinal health. Key product lines include VisuXL/VisuXL-Gel (preservative-free ocular lubricants with Coenzyme Q10), VisuEVO (vitamin D and phospholipid-based tears), VisuECTOINE (allergy eye drops), TREHAPAN (trehalose-based tears), Xailin Range (hyaluronic acid-based lubricants including Xailin Night ointment), MeiboPatch (thermal eye mask), VISUCOMPLEX Plus (antioxidant supplement for macular health), and COQUN OS (Coenzyme Q10 supplement). The company operates commercial presence across Italy, UK, Spain, Germany, and France, with products distributed in 20+ countries worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• VisuXL: Ocular lubricant product for dry eye syndrome
• VisuXL Gel
• VisuEVO
• VisuECTOINE
• Xailin Range
• TREHAPAN
• MeiboPatch
• COQUN
• VISUCOMPLEX Plus

Products and services

• VisuXL First artificial tear combining cross-linked hyaluronic acid with Coenzyme Q10 for dry eye patients, providing up to 12-hour hydration. Available in preservative-free unit-dose and multi-dose formats.
• VisuXL-Gel SMART gel for dry eye treatment that transforms from liquid to gel upon contact with the eye. Contains cross-linked carboxymethylcellulose (carmelose) and Coenzyme Q10 for antioxidant protection of the ocular surface.
• VisuEVO Innovative artificial tear with vitamin D, ultra-filtered phospholipids, vitamin A, and omega-3 for evaporative dry eye. Preservative-free using Novelia delivery system and compatible with contact lenses.
• VisuEVO Wipes Ophthalmic wipes for daily periocular area care, usable warm or cool as a compress. Suitable for adults, children, and contact lens users.
• MeiboPatch Reusable microwaveable eye mask for dry eye relief, made with cotton and grape seeds. Contains no perfumes or essential oils and includes a temperature indicator strip reaching optimal temperature in 40 seconds.
• VisuECTOINE Triple-action eye drop for ocular allergy and irritation containing ectoine, antihistamine, decongestant, and mast cell stabilizer. Preservative-free in unit-dose format.
• TREHAPAN Artificial tear combining trehalose, hyaluronic acid, and D-panthenol for long-lasting hydration, protection, and comfort in dry eye patients.
• Xailin Range Line of four ocular lubricant products combining hyaluronic acid at varying concentrations for different dry eye severity levels, including Xailin Night ophthalmic ointment.
• Xailin Night Ophthalmic ointment listed on the French reimbursement list for severe dry eye syndromes.
• Naviblef Range Product line for eyelid hygiene and blepharitis management.
• VISUCOMPLEX Plus Food supplement for retinal health containing antioxidants (zinc, lutein, vitamin C, vitamin E, alpha-lipoic acid, MAQUIBRIGHT from Aristotelia Chilensis berries) and vitamin D to protect retinal cells against oxidative damage.
• COQUN OS Food supplement with Coenzyme Q10 Miniactives using patented modified-release technology for enhanced bioavailability. Supports cellular energy production and provides antioxidant benefits for eye health.

Quantifiable outcome

• VisuXL with cross-linked hyaluronic acid provides up to 12 hours of continuous ocular hydration
• +2 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Lupin Limited (acquired VISUfarma)coreStrategic or Co-development Partner · 29 September 2025VISUfarma was acquired by Lupin Limited for €190 million. The acquisition significantly expands Lupin's ophthalmology portfolio to over 60 branded products and adds commercial presence across key European markets including Italy, UK, Spain, Germany, and France. CEO Vinita Gupta stated the acquisition is immediately accretive and will accelerate Lupin's specialty franchise build-out in Europe. Transaction completed April 2, 2026.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Laboratoires Théa: Independent, family-owned European specialty pharmaceutical company focused exclusively on ophthalmology, with a broad portfolio of ocular lubricants, anti-allergy, anti-infective and glaucoma products sold across Europe. Closely comparable to VISUfarma in product mix, geographic focus and channel-led model through pharmacies and ophthalmologists.
• Nicox SA: French ophthalmic specialty company whose European commercial activities were combined with Visufarma SpA in 2016 to form VISUfarma. Comparable in therapeutic focus (glaucoma, ocular surface), European footprint, and small-cap specialty pharma positioning.
• Santen Pharmaceutical: Japan-headquartered specialty ophthalmic pharmaceutical company with a global prescription and OTC portfolio covering glaucoma, dry eye, ocular allergies and retinal disease. Comparable category specialization and mix of branded Rx and consumer ocular health products.
• Horus Pharma: Independent French specialty ophthalmic pharmaceutical company marketing prescription and OTC ocular products across Europe with a focus on dry eye, lid hygiene and nutraceuticals. Closely comparable to VISUfarma in size, geography and product breadth.
• Sun Pharma (Ophthalmic Division): Global specialty and generic pharmaceutical company with a dedicated ophthalmic franchise covering dry eye, glaucoma, allergy and retinal health products. Comparable as a sub-scale-to-mid specialty ophthalmic player expanding in European markets.

Broad incumbents

• Bausch + Lomb: One of the largest global ophthalmic companies, with a full portfolio spanning pharmaceuticals (including Xiidra for dry eye), surgical devices, contact lenses and consumer eye care. Comparable as a broad incumbent in the same end markets VISUfarma serves in Europe.
• Alcon: Global ophthalmic leader covering surgical vision care and Vision Care (contact lenses, ocular health drops including Systane). Directly competes in OTC ocular lubricants and dry eye treatments alongside VISUfarma's VisuXL and VisuEVO.
• AbbVie (Allergan Aesthetics / Eye Care): Global biopharma with a significant ophthalmology franchise from the Allergan acquisition, including Refresh Tears, Lumigan, Alphagan and other dry-eye and glaucoma products. Broad incumbent competing with VISUfarma across both OTC lubricants and Rx glaucoma.
• Johnson & Johnson Vision: Global vision-care division of J&J covering contact lenses, IOLs and OTC ocular health products such as Blink tears. Broad incumbent with overlapping dry-eye and ocular-surface products distributed through European pharmacies.

Emerging players

• Ocular Therapeutix: US-based specialty biopharma developing novel ophthalmic formulations including preservative-free and sustained-release ocular drug delivery. Comparable in focus on differentiated ophthalmic drug delivery technology, though at an earlier commercial stage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/VisufarmaD
• Facebookfacebook.com/VISUfarma
• LinkedInlinkedin.com/company/visufarma---the-eye-health-company
• Instagraminstagram.com/visufarma

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VISUfarma