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Sun Pharmaceuticals acquires GlaxoSmithKline's Australian opiates business.

M2 EQUITYBITES-September 3, 2015-Sun Pharmaceuticals acquires GlaxoSmithKline's Australian opiates business

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Sun Pharmaceutical Industries, an India-based drug manufacturer, has acquired GlaxoSmithKline's opiates business in Australia.

It was reported yesterday that the company's two manufacturing facilities in Australia, its opiate product range and inventory will be transferred to Sun Pharma. The acquired business includes analgesics produced from raw materials found in opium poppy plants to treat moderate to severe pain.

The acquisition is intended to allow Sun Pharma to expand its narcotics raw material market share; improve opiate alkaloids portfolio and depth in global opiates market; and strengthen its presence in the worldwide opiates business.

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Publication:M2 EquityBites (EQB)
Date:Sep 3, 2015
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