With this acquisition, Sun Pharma will strengthen its presence in the dermatology segment across the globe.
Sun Pharmaceutical Industries has entered into a definitive agreement to acquire Japan-based Pola Pharma for around $1 million. With this acquisition, Sun Pharma will strengthen its presence in the dermatology segment across the globe.
Pola Pharma is engaged in research and development, manufacture, sale and distribution of branded and generic products in Japan. Its portfolio mainly includes dermatology products. The company also has R&D capabilities to develop new technologies and formulations.
Kirti Ganorkar, Executive Vice-President of Sun Pharma, said, "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 the future."
Junichi Nakamichisaid, Sun Pharma Japan Country Head, stated, "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."
Sun Pharma said, "The equity consideration, on the debt-free and cash-free basis, for the 100 per cent stake in Pola Pharma is around USD 1 million."
The deal is likely to be completed on or before January 31, 2019.