March 29, 2024 05:33 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi has mastered art of manipulating democracy, hurting Constitution: Mallikarjun Kharge | Mafia-turned-politician Mukhtar Ansari dies of cardiac arrest at 63 | NIA arrests key conspirator in Bengaluru cafe blast case | Actor Govinda returns to politics after 14 years of 'vanvas', joins Eknath Shinde camp | 'To browbeat and bully others is vintage Congress culture': PM posts after 600 lawyers write to CJI

Sun Pharma enters Japanese prescription market

India Blooms News Service | | 30 Mar 2016, 10:03 am
Mumbai, Mar 30 (IBNS): Sun Pharma has announced the acquisition of 14 established prescription brands from Novartis AG and Novartis Pharma AG in Japan.

According to the agreements entered into between the parties, a wholly-owned subsidiary of Sun Pharma will  acquire the portfolio consisting of 14 established prescription brands from Novartis 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, for a certain period, pending transfer of all marketing authorizations 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 local marketing partner will also be responsible for distribution of the brands.

Commenting on the acquisition, Dilip Shanghvi, Managing Director, 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.”

As per the December-2015 IMS Data, the size of the Japanese pharmaceutical market was estimated at US$ 73  Billion, accounting for over 7% of the US$ 1 Trillion global pharmaceutical market.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.