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    • Sun Pharma to acquire...

    Sun Pharma to acquire Japan's Pola Pharma for Rs 7 crores approx

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2018-11-27T16:20:22+05:30  |  Updated On 17 Aug 2021 12:04 PM IST




    New Delhi: Sun Pharma on Monday said it will acquire Japan-based Pola Pharma for around USD 1 million, (approximately Rs 7 crores) to strengthen its presence in dermatology segment across the globe. The company has entered into a definitive agreement to acquire Pola Pharma, which is engaged in research and development, manufacture, sale and distribution of branded and generic products in Japan, Sun Pharmaceutical Industries said in a statement.

    Pola Pharma's portfolio mainly comprises dermatology products. It has two manufacturing facilities in Saitama with capabilities to manufacture topical products and injectables.

    It also has R&D capabilities to develop new technologies and formulations.

    "This acquisition is in line with our strategy to strengthen our global dermatology presence. Pola Pharma is a leading dermatology company and it will help us launch our speciality and generic dermatology products in the Japanese market in future," Sun Pharma Executive Vice-President Kirti Ganorkar said.

    Sun Pharma Japan Country Head Junichi Nakamichi said that by combining its global strengths with Pola Pharma's local expertise, the company will have a great opportunity to further strengthen its presence in Japan, especially in dermatology.

    Pola Pharma had an annual revenue of around USD 108 million and a net loss of USD 7 million for the 12 months ended December 2017 on a consolidated basis.

    "The equity consideration, on a debt-free and cash-free basis, for the 100 per cent stake in Pola Pharma is around USD 1 million," Sun Pharma said.

    The transaction is expected to close on or before January 31, 2019, subject to completion of closing conditions, it added.

    Sun Pharma forayed into the Japanese prescription market in 2016, with the acquisition of 14 established prescription brands from Novartis. The size of the Japanese pharmaceutical market is estimated at USD 84.8 billion, accounting for around 7.5 per cent of the USD 1.13-trillion global pharmaceutical market.

    Sun Pharma shares Monday ended 2.88 per cent down at Rs 510.65 on the BSE.



    Also Read: Sun Pharma Q2 consolidated net loss at Rs 219 crore



    AcquisitionBSEDermatologyJapanjunichi nakamichiKirti Ganorkarpharmaceuticalpolaprescription marketSun Pharma
    Source : PTI

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    Medical Dialogues Bureau
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      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

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