Sun Pharma buys Japanese drugmaker with two manufacturing sites

27-Nov-2018 - Last updated on 27-Nov-2018 at 14:51 GMT

(Image: Getty/Zerbor)

Related tags Japan Generic drugs Dermatology

Sun Pharma has announced plans to acquire Pola Pharma for $1m, adding topical drug and injectables manufacturing capabilities to its network in Japan.

Per the agreement, Sun Pharmaceutical Industries will acquire Pola Pharma’s branded and generic drug portfolio – which has a strong dermatology focus – along with manufacturing facilities and R&D capabilities, for $1m (€884,000).

The manufacturing sites in Saitama, near Tokyo, have capabilities to make topical drug products and injectables.

According to Kirti Ganorkar, executive vice president of Sun Pharma, the acquisition will boost the Indian firm’s presence in the global dermatology market.

“Pola Pharma is a leading dermatology company and it will help us to launch our specialty and generic dermatology products in the Japanese market in the future,” he said in a statement.

“We also get access to local manufacturing capability enabling us to serve the Japanese market more effectively,” he added.

The transaction is expected to close before the end of January, 2019.

Sun Pharma first entered the Japanese prescription market in 2016, with the acquisition of 14 established brands from Novartis for $293m.