Sun pharma forays into japanese market with acquisitions worth usd 293 millions
Sun Pharma has made acquisitions of 14 established prescription brands from Novartis in Japan worth USD 293 millions.
March 29, 2016: A wholly owned subsidiary of Sun Pharma would be acquiring products worth annualised revenues of USD 160 million addressing medical conditions across many therapeutic areas.
As per the terms of the agreement, Novartis would continue distributing the brands for some time, till the transfer of all marketing authorization to Sun Pharma's subsidiary. A local marketing partner of good repute would be marketing the acquired brands under the label of Sun Pharma. Both parties were under discussions since November 2015.
Japan's pharmaceutical market is of crucial importance as it is worth USD 73 billion and accounts for over 7 per cent of the 1 trillion USD global pharmaceutical market, according to IMS data.