Indian Economy News

Shasun gets global rights for Ibuprofen from US firm

Chennai: Chennai-based Shasun Pharmaceuticals has obtained the rights to globally launch a version of anti-inflammation drug Ibuprofen developed by the US-based ScolrPharma Inc.

The acquisition was done through Shasun's wholly-owned Swiss subsidiary SVADS Holdings. The deal provides for Shasun to develop and commercialise Ibuprofen 12-hour extended release OTC tablets and the associated Controlled Release Technology. Shasun also gets the global rights to Nuprin trademark, a popular brand of Analgesics.

Undisclosed

Company officials declined to disclose the value of the acquisitions.

It will take at least two years to gain the necessary approvals before we can launch this product, but the estimated revenue is $50-60 million a year, S Abhaya Kumar, Chairman and Managing Director, Shasun Pharmaceuticals, told Business Line . Nuprin had enjoyed sales of $70 million five years ago, but after successive sell-outs by its owners and waning sales, the brand rapidly lost market-share. The move by Shasun will help revive the brand, said Kumar. Scolr had acquired the Nuprin brand for $180,000 in 2010.

Shasun manufactures close to 500 tonnes of Ibuprofen at its factory in Puducherry, which will also produce the new variant. S Hariharan, Chief Financial Offer, said the company also plans to market Nuprin in India. The Shasun scrip ended marginally lower at Rs. 127.5 on the BSE.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.