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Sun Pharmaceutical Industries has completed the acquisition of GlaxoSmithKline’s opiates business in Australia.
Sun Pharma said in a statement that this acquisition fortifies the company’s position with two opiates manufacturing facilities in Port Fairy and Latrobe (both in Australia) complementing its API manufacturing footprint globally.
Anil Kumar Jain, Sun Pharma’s CEO of API Business said, “… completion of this acquisition enables us to leverage our unique position in the global opiates business by capitalising our global footprint and global ranking in the speciality generics market. Sun Pharma stays committed to uncompromised product quality, 100 percent compliance and innovation.”
According to Sun Pharma, the acquisition will enhance the opiate alkaoids portfolio of the company and depth in global opiates market.
