Sun Pharma forayed into the Japanese market in March by acquiring 14 prescription brands from Novartis for $293 million. Photo: Hemant Mishra/MintHyderabad: Sun Pharmaceutical Industries Ltd, India’s largest drugmaker, on Tuesday said it has entered into a distribution agreement with Mitsubishi Tanabe Pharma Corp. to market 14 prescription brands it acquired from Novartis AG in Japan this year. Out of the 14 prescription brands, 11 will be re-launched by Sun Pharma-Mitsubishi in the Japanese market by the end of December, while the remaining three will hit the market next year. Sun Pharma forayed into the Japanese market in March by acquiring 14 prescription brands from Novartis for $293 million. As per December 2015 data from IMS Health, the size of the Japanese pharmaceutical market was estimated at $73 billion, accounting for over 7% of the $1 trillion global pharmaceutical market, making it the second largest market for medicines after the US.

Source: Mint September 06, 2016 04:52 UTC