Sun Pharma has agreed to acquire 14 established prescription brands from Novartis in Japan in a deal valued at $293m.
As per the agreed terms, the company will acquire products that have combined annualised revenues of around $160m. These products are said to address medical conditions across several therapeutic areas.
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With this acquisition, Sun Pharma will enter the Japanese pharmaceutical market estimated at $73bn, accounting for more than 7% of the $1tn global pharmaceutical market.
Sun Pharma managing director Dilip Shanghvi 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."
Novartis will, however, continue to distribute these brands, for a certain period, pending transfer of all marketing authorisations to Sun Pharma’s subsidiary.
The acquired brands will be marketed by a reliable and established local marketing partner under the Sun Pharma label. The marketing partner will also be responsible for distribution of the brands.
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By GlobalDataIn September last year, Sun Pharm agreed to acquire US eye care firm InSite Vision as part of a $48m deal.
InSite Vision is focused on developing new specialty ophthalmic products, including three late-stage programmes and the acquisition will help Sun Pharma, which is in the process of establishing a branded ophthalmic business in the US.
Sun Pharma currently operates 49 manufacturing facilities across six continents, R&D centres across the globe.
Image: Sun Pharma’s global presence is supported by 49 manufacturing facilities across six continents. Photo: courtesy of Sun Pharmaceutical Industries.
