Sun Rising in the West!
The acquisition of Dusa Pharmaceuticals in the U S, the world’s largest generic-drug market by Sun Pharma today is yet another step of consolidating its already strong presence over there with sales of about US $729 million last year.
The US $40 billion generic market is Sun Pharma’s top priority. Sun is present in the US directly, through Sun Pharmaceutical Industries Inc., and through its subsidiaries Caraco and Taro. Sun has been steadily building its presence in the U S for over fifteen years now with unflinching focus, never missing an opportunity. Here is the company’s acquisition trail:
1997: Acquired Caraco, Detriot, Michigan
2005: Acquired the formulation plant of Bryan, Ohio,
2005: Acquired assets of Able labs dosage form plant in New Jersey
2008: Acquired Chattem Chemicals Inc. USA, Tennessee
2009: Acquired through Caraco some products of Forest Inwood
2010: Acquired Taro Pharmaceuticals Inc.,
2012: Dusa Pharmaceuticals Inc.,
With each of these acquisitions, Sun has gained one or all of the following: manufacturing facilities in the US to manufacture formulations including controlled substances, APIs (Active Pharmaceutical Ingredients); market access along with marketing capabilities; product access and enhanced and accelerated product filing capabilities; increased prescriber base; access to more specialty segments – in short everything you need and want to accelerate your growth.
The latest acquisition of Dusa Pharmaceuticals gives sun an enhanced presence in the dermatology segment. Dusa Pharmaceuticals is a fully integrated specialty pharmaceutical company focused primarily on the development and marketing of its Levulan Photodynamic Therapy Technology (PDT) platform used in conjunction with its proprietary light source, The BLU-U, blue light photodynamic illuminator. The two products are approved by the US FDA for the treatment of minimally to moderately thick actinic keratoses (AKs) of the face and scalp.
This acquisition further brings an effective prescriber base of 2,300 dermatologists, sales force in forty territories. The company registered a sales volume of US $34 million in annual sales (September 2010). Dusa has been named to Deloitte Technology Fast 500 for third consecutive year.
The product portfolio is one of the most critical factors for success in the highly regulated generic markets such as the US. Sun pharma has built up an enviable product portfolio through a steady stream of ANDAs (Abbreviated New Drug Applications) over the years. It has so far 237 approved ANDAs and 147 pending ANDAs covering various specialty therapeutic segments such as dermatology, CNS, CVS, Pain Management, Allergy, Oncology, Metabolism, Urology and others.
All this portends one thing. To be the first Indian drug company to cross the coveted the one-billion-dollar mark in sales in the US. Last year Sun has been among the top ten generic drug companies in the US for growth. The logical next step is to be among the top ten generic companies in the US for sales!