Sun Pharma buys manufacturing site in Hungary
Indian drug company Sun Pharma has bought raw materials and dosage form manufacturing operations in Hungary from the California-based research company Valeant Pharmaceuticals.
Indian drug company Sun Pharma has bought raw materials and dosage form manufacturing operations in Hungary from the California-based research company Valeant Pharmaceuticals.
The terms of the transaction have not been disclosed but Dilip Shanghvi, Sun Pharma's chairman and md said: 'The purchase of this site offers us an early opportunity to enter the European generic space, building on our strengths in bulk actives and product development. This will complement our European entry strategy with our UK MHRA approved plant in India, and will allow for a quick product roll out.'
Mumbai-based Sun Pharma is ranked 5th among all Indian pharma companies with a 3.44% market share (IMS -ORG Retail Chemist Audit, June 2005). The company is also active in the areas of psychiatry, neurology, cardiology, diabetology, gastroenterology, orthopedics.