Sun Pharma acquires US injectables firm Pharmalucence
Pharmalucence provides contract manufacturing services of non-cytotoxic human injectables in liquid and powder form, which will now
Mumbai: Drug maker Sun Pharmaceutical Industries Ltd on Wednesday said it had acquired Pharmalucence Inc., a small US-based injectable drug manufacturer, for an undisclosed amount. The acquisition was done through one of Sun Pharma’s US subsidiaries.
“Pharmalucence has sterile injectable manufacturing capacity in the US, supported by research capabilities," Sun Pharma said in a statement on Wednesday.
On Wednesday, Sun Pharma stock closed 0.67% up at Rs747.90 at BSE while the benchmark index Sensex ended the day at 25,320.68 points—up 1.27%.
Pharmalucence currently provides contract manufacturing services of non-cytotoxic human injectables in liquid as well as powder form to drug makers and pharmacies. The US company, which has an employee base of at least 100 professionals, had recently set up a new sterile plant.
It also has a small business of radiopharmaceuticals, selling products like Sestamibi, Mebrofenin, Pyrophosphate, DTPA, Hepatolite, Medronate, Sulfur Colloids, and radiopharmaceutical vial shields to key pharmacy chains including UPPI, Cardinal Health, Triad Isotopes, GE among others.
One of Pharmalucense’s key products Sulfur Colloid, is now indicated to assist in the localization of lymph nodes draining a primary tumor in patients with breast cancer or malignant melanoma when used with a hand-held gamma counter.
“This product provides better market potential for Sun Pharma," says Hitesh Mahida, sector analyst with Antique Stock Broking Ltd.
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