Sun Pharma to buy some generic business of Takeda's US subsidiary URL Pharma
18 December 2012
Sun Pharmaceutical Industries (Sun Pharma), India's largest drugmaker by market value, yesterday said that its subsidiary Caraco Pharma will buy the generics business of Japanese drug maker Takeda Pharmaceuticals' US-based subsidiary URL Pharma.
The Mumbai-based pharma giant did not disclose the financial terms of the acquisition.
The deal comes a month after Sun Pharma said that it is buying US dermatology company Dusa Pharmaceuticals, for about $230 million in cash.
URL Pharma, a former privately-held Philadelphia-based pharmaceutical company was acquired by Takeda America Holdings, Inc. in 2012 for $800 million.
Post closing, Sun Pharma said that the non-Colcrys (colchicine, USP) generic assets of URL Pharma will be owned and managed by Caraco. Colcrys, used to treat gout, generates sales of $430 million annually or 70 per cent of URL Pharma's total sales of $600 million.
Philadelphia, Pennsylvania -based URL Pharma has 288 ANDA (new drug application) US Food and Drug Administration (FDA) approvals for selling generic drugs manufactured at its FDA approved facilities in Philadelphia.