RPG Life Sciences Ltd has signed an agreement to acquire seven prescription brands from Sun Pharmaceutical Industries Ltd., along with its subsidiaries for Rs.41 crore.
This is in line with the company’s strategy to focus on formulations business. The acquired brands are primarily in respiratory and urology segments. In addition to this, three products will complement the company’s existing range.
C.T. Renganathan, Managing Director, RPG Life Sciences, said: “Historically, the company has invested in licensing products. This is the first time that we have made a brand acquisition. We believe these brands have a huge potential to grow and are a perfect fit to our current portfolio and in line with our long-term growth strategy.”
This deal is subject to receipt of Competition Commission of India’s (CCI) approval.
The company has also entered into a pact with the U.S.-based Biophore, to develop, file and commercialise products specifically targeting the U.S. market.
As part of this tie-up, Biophore will develop, manufacture and file finished dosage formulations (DMF) for the API whereas RPG Life Sciences will develop, manufacture, file and commercialise these products from its manufacturing facility for regulated markets.
Niche productsRPG Life Sciences will be entering into a collaboration with Biophore for the development of niche products for the U.S. market.
To begin with, the company will start with four projects which will be achieved in two phases comprising of two products each. The company will own the Abbreviated New Drug Application for these products in the U.S. market while exploring the potential for these products in the other regulated markets with Biophore.
