India's Sun Pharma Buys U.S. Injectable Drug CMO
Sun Pharmaceuticals has announced the acquisition of U.S.-based Pharmalucence Inc., by a Sun subsidiary.
The Massachusetts-based Pharmalucence provides contract and private label formulation development and manufacturing services of human injectables. The deal is expected to help Sun strengthen its presence in the U.S. injectable business and enter into the new area of radio pharmaceuticals -- agents often used to treat cancer or diagnose certain medical problems.
Sun Pharma, who acquired Ranbaxy in April for $3.2 billion, is joined by other India drugmakers who are de-risking their growth strategies by setting up manufacturing facilities in the U.S. India's Glenmark Pharma reported earlier this week that it is planning to set up a new plant in the U.S. to serve the domestic market.