Sun Pharma to acquire Japan's Pola Pharma for $1 mn; to strengthen presence in dermatology segment

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

Press Trust of India November 27, 2018 11:20:32 IST
Sun Pharma to acquire Japan's Pola Pharma for $1 mn; to strengthen presence in dermatology segment

New Delhi: Sun Pharma on Monday said it will acquire Japan-based Pola Pharma for around $1 million 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.

Sun Pharma to acquire Japans Pola Pharma for 1 mn to strengthen presence in dermatology segment

Representational image. Reuters

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 $108 million and net loss of $7 million for the 12 months ended December 2017 on a consolidated basis.

"The equity consideration, on the debt-free and cash-free basis, for the 100 per cent stake in Pola Pharma is around $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 $84.8 billion, accounting for around 7.5 per cent of the $1.13-trillion global pharmaceutical market.

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

Updated Date:

also read

Explained: How peer pressure helped Japan tame the coronavirus
World

Explained: How peer pressure helped Japan tame the coronavirus

With the world’s third-largest economy and 11th-largest populace, Japan also tops global rankings in vaccination and has consistently had one of the globe’s lowest infection rates

'No wonder dinosaurs became extinct': Twitter reacts to dinosaur beach race in Japanese town
World

'No wonder dinosaurs became extinct': Twitter reacts to dinosaur beach race in Japanese town

The unique dinosaur race was organised by a local revitalisation group at Sunset Beach Asamushi. As per NHK, about 130 people from all over Japan participated in the race with their own Tyrannosaurus Rex costume

Rolling in the deep: What we know about the world’s deepest shipwreck
World

Rolling in the deep: What we know about the world’s deepest shipwreck

The US ship named 'Sammy B' has been discovered in a battered but largely intact condition. The ship is known for a heroic battle against the Japanese in WWII. It went down on 25 October 1944 during the battle