Shasun Pharmaceuticals on Monday announced that it has acquired the global rights to develop and commercialise Ibuprofen the 12-hour extended release tablets from the US-based ScolrPharma along with the global rights of analgesics Nuprin for an undisclosed sum.
The acquisition also includes the controlled release technology of Ibuprofen 12-hour extended release OTC, Shashun Pharmaceuticals said in a statement on the Bombay Stock Exchange.
The global rights from Scholr have been acquired by Shasun's wholly-owned subsidiary SVADS Holdings, Switzerland. "Ibuprofen having completed a successful Phase III in the US is a differentiated long acting non-steroidal anti-inflammatory drugs (NSAIDs) in the multi-billion dollar global OTC analgesics market," the company said.
It also said, "The acquisition complements Shasun's strategy to expand its range of NSAIDS products through novel, safe and efficacious technologies, including applications across its Ibuprofen franchise."
Commenting on the acquisition, Shasun Pharmaceuticals managing director S Abhaya Kumar said, "The acquisition is the first among a series of strategic initiatives in our quest to continue to enhance our global leadership in the NSAIDS category." Shasun is among top vertically integrated manufacturers of Ibuprofen and its derivatives, from actives to formulated packaged products for both prescription and over-the-counter markets.
S Hariharan, chief financial officer, Shasun Pharmaceuticals, told dna, "The earlier product was a regular one while this is an extended release product. We expect this to have a worldwide sales of $50-60 million within 3-4 years time. This is a highly effective product and will be sold at a slightly higher premium than the regular ones. Launch of this product depends on the regulatory approval though we expect it may take around two years to be launched in India."
According to Daljeet S Kohli, head-research, Indianivesh Securities, a city-based stock broking company, "Ibuprofen is a mass product and with this new extended release tablet, the company is trying to move up the value chain. This will be good for both consumers and doctors as administering is better with such products. Nuprin, on the other hand, has a small market and will not be a major game-changer."
Shares of Shasun Pharmaceuticals closed at Rs 127.50 per scrip on BSE on Monday, down 0.20% the previous close.