30 Mar 2016
Sun Pharma will acquire the portfolio consisting of 14 established prescription brands from Novartis for a cash consideration of $293 million. These brands have combined annualized revenues of approximately $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.
As per the December-2015 IMS Data, the size of the Japanese pharmaceutical market was estimated at $73 Billion, accounting for over 7% of the $1 Trillion global pharmaceutical market.