AsianScientist (Apr. 7, 2016) – India-based pharmaceutical company Sun Pharma has announced the acquisition of 14 established prescription brands from Novartis AG and Novartis Pharma AG in Japan, for a cash consideration of US$293 million.
These brands have combined annualized revenues of approximately US$160 million and address medical conditions across several therapeutic areas. Under the terms of the agreements, Novartis will continue to distribute these brands pending transfer of all marketing authorizations to Sun Pharma’s subsidiary.
Under the terms of the agreements, Novartis will continue to distribute these brands, for a certain period, pending transfer of all marketing authorizations to Sun Pharma’s subsidiary. The acquired brands will be marketed by a local marketing partner under the Sun Pharma label, that will also be responsible for distribution of the brands.
Commenting on the acquisition, Mr. Dilip Shanghvi, managing director of Sun Pharma said, “Japan is a market of strategic interest for us. 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.”
Sun Pharma is India’s top pharmaceutical company, providing high-quality, affordable medicines in over 150 countries. Sun Pharma’s global presence is supported by 49 manufacturing facilities across six continents. Its footprint across emerging markets covers over 100 markets and six markets in Western Europe. The consolidated revenues for 12 months ending March 2015 are approximately US$4.5 billion.
———
Source: Sun Pharma.
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.
