Sun Pharma to acquire Pola Pharma

Sun Pharmaceutical has entered into a definitive agreement to acquire Pola Pharma Inc., a Japanese pharmaceutical company engaged in research and development, manufacture, sale, and distribution of branded and generic products in Japan. The portfolio of Pola Pharma primarily comprises dermatology products. Pola Pharma, part of Pola Orbis Group, 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 the company’s strategy to strengthen their global dermatology presence. Pola Pharma is a leading dermatology company and will help Sun Pharma to launch specialty and generic dermatology products in the Japanese market in future.

Sun Pharma also gets access to local manufacturing capability enabling them to serve the Japanese pharmaceutical market more effectively. Pola Pharma had annual revenues of approximately USD 108 million and net loss of USD 7 million for 12 months ended December 2017 on consolidated basis. The equity consideration, on debt free and cash free basis, for the 100 percent stake in Pola Pharma is approximately USD 1 million. The transaction is expected to close on or before January 31, 2019, subject to completion of closing conditions. Sun Pharma forayed into the Japanese prescription market in 2016 with the acquisition of 14 established prescription brands from Novartis.