Mumbai, Sept. 6: Sun Pharmaceutical Industries today said it has entered into a distribution pact with Mitsubishi Tanabe Pharma Corporation to market 14 prescription drugs, which it acquired from Novartis AG for $293 million in March this year. The Mumbai-based company said it had initiated a phased transfer of manufacturing and marketing rights in Japan for the 14 prescription brands. Sun Pharma will focus on expanding its sales in Japan's pharmaceutical market, while continuing to ensure a stable supply of medicines and healthcare information,'' Isao Muramatsu, president and representative director of Sun Pharma Japan, said. Japan is the world's second-largest pharmaceutical market after the US. Size of Japan's pharma market was estimated at $73 billion, which is over 7 per cent of the $1-trillion global pharma market, IMS data of December 2015 showed.

Source: The Telegraph September 06, 2016 19:58 UTC