Sun Pharma completes acquisition of controlling stake in JSC Biosintez

Indian generic drug giant Sun Pharmaceutical today said it has completed the acquisition of a controlling stake in Russian pharmaceutical company JSC Biosintez.

In a filing with the BSE, Sun Pharma said that it has completed all necessary formalities to close the deal, and "the process of the acquisition of 85.1 per cent of JSC Biosintez has been completed today."

In November, Sun Pharma struck a deal to buy a controlling 85.1-per cent stake in JSC Biosintez for $24 million. (See: Sun Pharma to buy controlling stake in Russian pharma company JSC Biosintez for $24 mn) Under the terms of the deal, Sun Pharma will also assume JSC Biosintez's debt of around $36 million, taking the total deal size to $60 million.

The transaction will give Sun Pharma access to local manufacturing capability across multiple dosage forms in Russia.

Founded in 1992 and based in Penza, Russian Federation, Biosintez manufactures and markets pharmaceutical products in Russia and the Commonwealth of Independent States (CIS).

It has a manufacturing facility in Penza region with capabilities to manufacture a wide variety of dosage forms including pharmaceuticals for injections, blood substitutes, blood preservatives, ampoules, tablets, ointment, creams, gels, suppositories, and APIs.

Its products include tablets, ointments, suppositories, powders for injections, injections in ampoules, and bottles.

It produces approximately 180 types of drug and pharmaceutical preparations from such pharmaceutical groups as: antibiotics; antimicrobial agents; bronchodilators; vitamins; hypoglycemic agents; diuretics; blood substitutes; anti-allergens and antiviral agents; anti-inflammatory, analgesic and antipyretics; sedatives, and anti-tuberculosis drugs, among others.