Sun Pharma sets sights on firms in US, EU

By siliconindia staff writer   |   Tuesday, 03 August 2004, 19:30 IST
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MUMBAI: The Mumbai-based pharma major Sun Pharma is increasing its focus on regulated markets and is scouting for an acquisition in the US and alliance partners in Europe. “We believe there are interesting opportunities in Europe and are looking at entering into partnerships for this market,” said Dilip Sanghvi, chairman and MD Sun Pharma at the company’s post-result conference call. He added that Sun Pharma has already made a few filings for the European market. Company officials said the company is planning to participate in Europe on a partnership-based model. Sun Pharma is looking at a partner for three key European markets — France, Germany and UK — for its generic products. Sun Pharma shares ended flat at Rs 354.15, while the main sensex gained about 30 points. The company plans to pursue product development and manufacturing of bulk and formulation drugs out of one of its approved Indian sites. The company will work with its partner to register the products and the partner will be completely involved with marketing. “In this context, we’ve added capacities for very complex bulk active manufacture like steroids, anti-cancer products, peptides and hormones,” company officials said. Sun Pharma is looking at making filings for these kinds of products, in addition to other generics, for the European markets.