Sun Pharma signs distribution agreement with Mitsubishi Tanabe

Chennai : Indian drug major Sun Pharmaceutical Industries Ltd said it has signed a strategic distribution agreement with Mitsubishi Tanabe Pharma Corporation.

In a statement, Sun Pharma said Japanese company Mitsubishi Tanabe will distribute the 14 prescription brands acquired from Novartis Pharma earlier this year.

Mitsubishi Tanabe will also provide information on their proper use to healthcare professionals.

"Through this alliance we have the opportunity to leverage Mitsubishi Tanabe Pharma Corporation's specialized expertise to create a strong business foundation for us in Japan," Isao Muramatsu, President & Representative Director, Sun Pharma Japan Ltd, was quoted as saying in the statement.

"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," Muramatsu said.

The 14 prescription brands acquired from Novartis will be transferred to Sun Pharma's subsidiary in Japan starting October 2016, the Indian company said.

Sun Pharma said the initiation of phased transfer of manufacturing and marketing rights for the 14 drugs from Novartis has begun.