Sun Pharma inks distribution pact with Mitsubishi Tanabe in Japan

06 September, Mumbai

Drug major Sun Pharma has announced a distribution alliance in Japan with Mitsubishi Tanabe for a phased transfer of manufacturing and marketing rights of 14 products that it acquired from Novartis earlier this year as part of a USD293 million deal.

Sun’s products are part of the long-listed and established prescription brands and includes Parlodel, Lamsil, Nitroderm and Lopressor, company said in filing with BSE.

”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.

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 Pharma’s subsidiary.

The 14 brands have combined annualised revenues of around USD 160 million and address medical conditions across several therapeutic areas.