Sun Pharma to buy 14 drug brands from Novartis in Japan

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Sun Pharma to buy 14 drug brands from Novartis in Japan

Generics/News | Posted 22/04/2016 0 Post your comment

A wholly owned subsidiary of India’s Sun Pharmaceutical Industries (Sun Pharma) will acquire a portfolio of 14 established prescription brands from Novartis and Novartis Pharma in Japan for a sum of US$293 million. This will give Sun Pharma a strong foothold in Japan, the world’s second largest market after the US.

Under the terms of the agreement, which was announced on 29 March 2016, Novartis will continue distributing the brands, indicated for the treatment of medical conditions across a number of therapeutic areas, for a period until all marketing authorizations have been transferred to Sun Pharma’s subsidiary. Marketing and distribution will then be undertaken by a local marketing partner under the Sun Pharma label.

‘This acquisition marks Sun Pharma’s foray into the Japanese prescription market and provides us an opportunity to build a larger product portfolio in the future’ said Dilip Shanghvi, Managing Director of Sun Pharma.

The 14 brands have combined annualized revenues of around US$160 million.

In 2013, Sun Pharma acquired Ranbaxy Laboratories from Japan’s Daiichi Sankyo, elevating the Indian generics manufacturer into the top five drugmakers in the world [1].

Reference
1. GaBI Online - Generics and Biosimilars Initiative. Sun Pharma to acquire Ranbaxy creating 5th largest generics firm [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2016 Apr 22]. Available from: www.gabionline.net/Pharma-News/Sun-Pharma-to-acquire-Ranbaxy-creating-5th-largest-generics-firm

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Source: Sun Pharma