Chennai-based Shasun Pharmaceuticals Ltd has acquired the global rights to develop and commercialise Ibuprofen 12-hour extended release OTC tablets as well as associated technology besides rights to Nuprin analgesic trademark from US-based drug maker ScolrPharma, as per a company disclosure.
“The acquisition is the first among a series of strategic initiatives in our quest to continue to enhance our global leadership in NSAIDS category,” S Abhaya Kumar, MD of Shasun Pharmaceuticals said.
The acquisition was done by Shasun’s wholly owned Swiss subsidiary SVADS Holdings.
The Ibuprofen tablet has completed a successful Phase III trial in US and is targeting OTC analgesic segment, which is a multi-billion dollar market, according to a stock exchange announcement. Through this development, the company will vertically integrate both manufacturing of Ibuprofen and its derivatives from actives to formulated packaged products for both Rx and OTC markets.
The development comes close on the heels of a proposed deal where Bangalore-based SeQuent Scientific Ltd is investing Rs 116.5 crore to pick up around 16 per cent stake in Shasun Pharma. Earlier, Alivira Animal Health, a wholly owned subsidiary of SeQuent, acquired the Vizag Unit of Shasun Pharma for $15 million.
Shasun, which has presence in Europe, Japan and the US apart from the Indian market, focuses on manufacturing API ingredients and formulations. In 2012, PE firm OrbiMed acquired around 12 per cent stake in the company for Rs 50 crore ($10.23 million then).
(Edited by Joby Puthuparampil Johnson)