1. Sun Pharmaceutical shares gain on entering Japanese prescription market

Sun Pharmaceutical shares gain on entering Japanese prescription market

According to the agreements entered into between the parties, a wholly-owned subsidiary of Sun Pharma will acquire the portfolio consisting of 14 established prescription brands from Novartis for a cash consideration of $293 million.

By: | New Delhi | Published: March 30, 2016 11:05 AM
sun pharma, bse sensex According to the agreements entered into between the parties, a wholly-owned subsidiary of Sun Pharma will acquire the portfolio consisting of 14 established prescription brands from Novartis for a cash consideration of 3 million.

Sun Pharmaceutical Industries share price jumped over 2 per cent in the early trade on Wednesday after the company announced acquisition of 14 established prescription brands from Novartis AG and Novartis Pharma AG in Japan.

At 10.48 am, shares of Sun Pharma were trading 1.82 per cent up at Rs 808.50. The scrip opened at Rs 812 and has touched a high and low of Rs 815 and Rs 801, respectively, in trade so far. Sensex was up 185.27 points, 0.74 per cent, at 25,085.73.

According to the agreements entered into between the parties, a wholly-owned subsidiary of 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 annualised 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 authorisations 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.

Dilip Shanghvi, managing director, Sun Pharma in a BSE filing said, “Japan is a market of strategic interest for us. This acquisition marks Sun Pharma’s foray into the Japanese prescription market and provides us an opportunity to build a larger product portfolio in the future.”

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    Ashish
    Mar 30, 2016 at 10:12 am
    All the ried cl indians who stay away from stocks and mf citing lack of knowledge, 90% had ULIP in their portfolio. So does this means ULIP is best financial product OR highest commission paid product. Visit prudentcap dot in to explore more.
    Reply

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