Sun Pharma to acquire companies in the US

24 January 2007

New Delhi: Sun Pharmaceuticals is looking at acquiring companies in the US armed with a war chest of $500 million. The company says it is interested in acquiring a generic business in the US.

The company is aiming to touch sales of $100 million from the US market this year, and has raised about $350 million through convertible bonds, with the rest coming through internal accruals. The company is expected to touch a growth of 25-30 per cent this fiscal.

Sun Pharma recently got a shot in the arm with a US appeals court upholding a lower court ruling in favour of its Detroit-based subsidiary Caraco in a patent infringement case over Johnson & Johnson''s painkiller drug Ultracet.

The company sells a total of 28 products in the market, all of which should give it sales of around $100 million this fiscal.