New Delhi: Drug major Sun Pharma has announced
initiation of a phased transfer of manufacturing and marketing
rights of 14 brands, it acquired from Swiss drug firm Novartis
in Japan, earlier this year for USD 293 million.
"These 14 prescription brands acquired by the company
earlier this year will be transferred from Novartis Pharma
K.K. to Sun Pharma's subsidiary in Japan beginning October
2016," Sun Pharma said in a statement today.
The company said it has signed a strategic distribution
alliance with Mitsubishi Tanabe Pharma Corporation for these
14 prescription brands.
"Following the transfer of manufacturing and marketing
rights to Sun Pharma's subsidiary in Japan, Mitsubishi Tanabe
Pharma Corporation will market and distribute all the 14
brands as well as provide information on their proper use to
healthcare professionals," the company added.
Isao Muramatsu, President and Representative Director,
Sun Pharma Japan Ltd, said: "We have the opportunity to
leverage Mitsubishi Tanabe Pharma Corporation's specialised
expertise to create a strong business foundation for us in
Japan. Sun Pharma will focus on expanding its sales channels
in Japan's pharmaceutical market while continuing to ensure a
stable supply of medicines and healthcare information".
In March, Sun Pharma forayed into Japanese prescription
market by acquiring 14 brands from Novartis for USD 293
million (over Rs 1,940 crore).
Under the terms of the agreements, Novartis was to
continue distributing these brands, for a certain period,
pending transfer of all marketing authorisations to Sun
The 14 brands have combined annualised revenues of around
USD 160 million and address medical conditions across several