SUN PHARMA BUYS 14 BRANDS FROM NOVARTIS IN JAPAN

New Delhi, Medicare News, May 15, 2016
In a $293 million cash deal India’s Sun Pharmaceutical Industries Ltd. has agreed to buy 14 established prescription brands from Novartis AG and Novartis Pharma AG in Japan, the Indian company said.
In a statement issued late Tuesday, the company said a wholly owned subsidiary of Sun Pharma will acquire the portfolio consisting of 14 established prescription brands from Novartis for a cash consideration of $293 million.
“These brands have combined annualised revenues of approximately $160 million and address medical conditions across several therapeutic areas,” the company said.
“Under the terms of the agreements, Novartis will 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 partner will also be responsible for distribution of the brands.
“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,” Dilip Shanghvi, managing director, Sun Pharma was quoted as saying in the statement.
As per the December-2015 IMS Data, the size of the Japanese pharmaceutical market was estimated at $73 billion, accounting for over seven percent of the $1 trillion global pharmaceutical market.

Related Posts

Lipid Association Of India Issues New Updated Heart Disease Guidelines For Indian Patients

New Delhi: The Lipid Association of India (LAI) has updated its guidelines on heart disease in Indians, ToI reported on February 24. The fresh guidelines include new data on cardiovascular…

AI in Education is Transforming Learning Experiences

Artificial Intelligence (AI) is reshaping the landscape of education, offering personalized learning experiences and innovative teaching methods. This post delves into the various applications of AI in education, from adaptive…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

Spurious drugs: Maiden Pharma blacklisted, all contracts cancelled

Spurious drugs: Maiden Pharma blacklisted, all contracts cancelled

DCC Calls For Strict Implementation Of Revised Schedule M, State-Level Activities To Address AMR

DCC Calls For Strict Implementation Of Revised Schedule M, State-Level Activities To Address AMR

Sanofi, Cipla Join Hands To Expand Reach Of CNS Portfolio In India

Sanofi, Cipla Join Hands To Expand Reach Of CNS Portfolio In India

Cyberabad Police Seize 1 Kg Alprazolam, Arrest Three

Cyberabad Police Seize 1 Kg Alprazolam, Arrest Three

Lee Health develops natural capsule for effective Heart care

Lee Health develops natural capsule for effective Heart care

Medical Shop Run By Twenty20 In Kizhakkambalam Asked To Shut Down

Medical Shop Run By Twenty20 In Kizhakkambalam Asked To Shut Down