Sun Pharma to acquire Japan's Pola Pharma
New Delhi: Sun Pharma Monday said it will acquire Japan-based Pola Pharma for around USD 1 million to strengthen its presence in dermatology segment across the globe. The company has entered into a definitive agreement to acquire Pola Pharma, which is engaged in research and development, manufacture, sale and distribution of branded and generic products in Japan, Sun Pharmaceutical Industries said in a statement.
Pola Pharma's portfolio mainly comprises dermatology products. It has two manufacturing facilities in Saitama with capabilities to manufacture topical products and injectables. It also has R&D capabilities to develop new technologies and formulations.
"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 future," Sun Pharma Executive Vice-President Kirti Ganorkar said.
Sun Pharma Japan Country Head Junichi Nakamichisaid said that by combining its global strengths with Pola Pharma's local expertise, the firm will have a great opportunity to further strengthen its presence in Japan, especially in dermatology.