Caraco Pharmaceutical Laboratories, the US subsidiary of Sun Pharmaceuticals, has reached an agreement with Takeda Pharmaceuticals USA Inc to buy generic business of URL Pharma, Inc. Financial details were not disclosed yet.
Upon completion of the purchase, the non-colcrys generic assets of URL Pharma will be owned and managed by Caraco. The deal is subject to satisfaction of customary closing conditions, including applicable regulatory approvals, said the statement.
Japanese Pharma major Takeda, which acquired URL Pharma in June 2012 for $800 million, earns a major revenue from colcrys, a leading drug in gout therapy. Colcrys achieved a net sales of $155 million in four months after the buyout. URL Pharma, which achieved a sales of $600 million in 2011, earned a revenue of $430 million from colcrys sales.
URL Pharma has 288 ANDA (abbreviated new drug application) approvals for selling generci drugs and an FDA approved plant in Philadelphia. URL Pharma has presence in areas of oral diabetes, insomnia, rheumatology, gastroenterology, and cardiovascular treatments.
Sun Pharma, the largest Indian pharmaceutical company by market cap, had announced the acquisition of DUSA, a US-based dermatology company, in an all-cash transaction of $230 million (Rs 1,250 crore) in November.