Sun Pharma in South Africa

Sun Pharmaceutical Industries Ltd. Enhances South African Presence with Strategic Acquisition

Johannesburg, South Africa – May 8, 2024

Sun Pharmaceutical Industries Ltd. (Sun Pharma) has expanded its footprint in Africa by acquiring a 100% stake in Valstar S.A., which includes full ownership of its subsidiary, Kemipharm S.A. This strategic move aims to bolster Sun Pharma’s manufacturing capabilities and product portfolio within the African market. (angelone.in)

Strengthening Manufacturing Capabilities

The acquisition of Kemipharm S.A., based in Casablanca, Morocco, provides Sun Pharma with a state-of-the-art tablet and capsule manufacturing facility. This facility is poised to enhance production capacity, catering to the growing pharmaceutical demands of Morocco and neighboring African nations. (angelone.in)

Expanding Product Portfolio

Beyond manufacturing, the acquisition grants Sun Pharma access to Kemipharm’s registered and in-registration product portfolio. This addition is expected to diversify Sun Pharma’s offerings, enabling the company to address a broader range of patient needs across the African continent. (angelone.in)

Transaction Details

The acquisition is subject to approval by the Competition Council in Morocco. Pending regulatory clearance, the transaction is anticipated to be finalized by June 2024. The total enterprise value of the deal is capped at USD 31 million, comprising an upfront payment of USD 29 million and a potential deferred consideration of USD 2 million. (angelone.in)

Strategic Investment for Growth

This acquisition aligns with Sun Pharma’s commitment to expanding its global presence, particularly in high-growth markets like Africa. By enhancing manufacturing capabilities and broadening its product portfolio, Sun Pharma is well-positioned to improve access to essential medicines and contribute to the overall healthcare landscape across the continent. (angelone.in)

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About Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries Ltd. is a leading global pharmaceutical company headquartered in India. With a strong presence in over 100 countries, Sun Pharma is dedicated to providing high-quality, affordable medicines to patients worldwide. The company’s diverse portfolio includes generic and specialty products across various therapeutic areas.

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Note: This article is based on information available up to May 8, 2024.