Sun Pharma launches authorized generics of 4 Daiichi Sankyo’s drugs in US
Mumbai: Sun Pharmaceutical Industries Ltd, the world’s fifth largest generic drug company, has launched authorized generics of four hypertension treatment drugs of Daiichi Sankyo Inc in the US.
The company has launched generics of all strengths of Benicar, Benicar HCT, Azor and Tribenzor tablets. The four drugs put together had an estimated market size of $2.5 billion in the US in the 12 months ended August 31, according to data from global information and technology services firm, IMS Health.
“The launch is pursuant to a distribution and supply agreement between Sun Pharma’s wholly owned subsidiary and Daiichi Sankyo Inc, which grants the Sun Pharma subsidiary, exclusive rights to distribute these tablets in the US for a pre-determined period,” Sun Pharma said in a stock exchange filing.
Authorized generic is brand name drug produced by the innovator company and marketed as a generic product at a lower price without the brand name on its label. It may be marketed by the brand name drug company, or another company with the innovator firm’s permission.
Analysts expect these drugs to significantly contribute to Sun Pharma’s revenue in the next few months due to limited competition.
The company also announced on Thursday that it has acquired Ocular Technologies for an upfront payment of $40 million. Shares of Sun Pharma were up 1.2% at Rs748.55 on the BSE.