Indian drug major set to begin opiates business in Australia
Sun Pharmaceutical Industries Ltd, on Tuesday, announced that it has begun the integration of its opiates business with its recently-acquired two manufacturing facilities in Australia. Sun Pharma had announced the acquisition of GlaxoSmithKline (GSK’s) opiates business in Australia on March 3 this year. “This acquisition fortifies Sun Pharma’s global position with two opiates manufacturing facilities in Port Fairy & Latrobe (both in Australia) complementing its current API (Active Pharmaceutical Ingredient) manufacturing footprint globally,” the company confirmed in its latest announcement. Following the acquisition, the Indian drug major will now offer a wide variety of opiates product, along with API portfolio and dosage formulations to generate chronic and acute prescription drugs. The acquisition will bring a specialised team to bolster its business growth. Furthermore, it will allow Sun Pharma to expand its narcotics raw material (NRM) market share and increase its opiate alkaloids in global opiates market. Since the announcement of takeover earlier this year, the Opiates & Sun Pharma teams have been working on a plan to put together the functions of opiates business. The company now looks forward to identify best functional requirements, and work effectively to strengthen and widen its reach in the global opiates market. The GSK's opiates business manufactures poppy-derived opiate raw materials- used to produce analgesics for the treatment of body pain. Earlier, GSK had signed an agreement with Sun Pharma to transfer its manufacturing sites of Tasmania and Victoria, along with its portfolio of opiates products and inventory. “The successful completion of this acquisition enables us to leverage our unique position in the global opiates business by capitalizing our global footprint and global ranking in the specialty generics market. Sun Pharma stays committed to uncompromised product quality, 100% compliance and innovation,” said Anil Kumar Jain, CEO – API Business at Sun Pharma.
September 05, 2015 | 5:17pm IST.
to success.