Sun Pharma to acquire GSK's opiates business in Australia
Mumbai, March 5, 2015: Sun Pharmaceutical Industries has acquired the opiates business of GlaxoSmithKline (GSK) in Australia. The move is in line with the strategy to enter areas where the competition is limited.
The acquisition is expected to provide Sun Pharma a portfolio of drugs including poppy-derived opiate raw material - mainly used to make painkillers -- and access to GSK's manufacturing sites in Tasmania and Victoria.
The company said in a statement that the global opiates market holds good potential and the addition of GSK's opiates business will strengthen our positioning further. The acquisition is a part of our strategy towards building our portfolio of opiates and accessing strong capabilities in this segment.