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news.Sun Pharmaceuticals is reportedly planning to enter the Japanese market riding on its association with Daiichi Sankyo from which it is buying Ranbaxy Laboratories.
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The Economic Times has reported that the drug company is likely to introduce its generic drugs in Japan in three to four years after the deal with Ranbaxy is closed.
The company strategy would get a push with the Japanese Government’s decision to increase the penetration of generic drugs in the country to 60% by 2017 from the current 20%.
Also, Sun Pharma expects to begin recovering its research and development costs through the sale of Ranbaxy’s generic versions of Nexium and Valcyte in the US in a year after the closure of the deal.
Meanwhile, the Competition Commission of India (CCI) has sought more details from Sun and Ranbaxy on their transaction to ensure that the deal does not mar competition in the pharma industry, reported Press Trust of India.
A senior official told the news agency: "We have sought more information from the two companies. We will take a final view after getting the required information."
Sun signed $4 billion deal in April to buy Ranbaxy from Daiichi, to create the fifth-largest speciality generics company in the world.
The sale is currently awaiting approvals from the Indian Government.