Sun acquires a portfolio of dermatology products in Japan with Pola Pharma

In Japan, Sun Pharma began paying close to US $ 300 million a few years ago to Novartis for more than a dozen drugs that the Swiss drug manufacturer was unloading. The Indian pharmaceutical group announced Monday it has signed an agreement with the Pola Orbis group for the purchase of Pola Pharma. Two factories in Saitama have signed a partnership agreement. can manufacture topical products and injectables, including Pola's injectable anti-wrinkle product. He also has R & D capabilities to develop new technologies and formulations, Sun said. The transaction is expected to close no later than January 31, 2019.

"This acquisition is part of our strategy to strengthen our global presence in dermatology. Pola Pharma is a leading company in the field of dermatology and this will help us launch in the future our generic and specialized dermatology products in the Japanese market, "said Kirti Ganorkar, Sun's Executive Vice President. Pharma, in a statement. "We also have access to local manufacturing capabilities that allow us to serve the Japanese pharmaceutical market more efficiently."

Pola Pharma is on the small size of the company, producing only about $ 108 million in revenue and a net loss of $ 7 million for the 12 months ended in December 2017. Sun stated that the The agreement would allow it to acquire 100% of Pola's debt-free capital for an amount of approximately $ 1 million. ]

But the Indian pharmacist likes his prospects after "entering the Japanese prescription market in 2016" by buying 29 established drug brands from Novartis for $ 293 million. These drugs covered several therapeutic areas and generated annual sales of about $ 160 million.