Sun Pharma aims to enter Japan with chronic disease drugs

The company, which is yet to make its presence in the world's second largest drug market after the US, said it is currently evaluating options at the moment.

"Most likely we will enter the Japanese market with drugs aimed at treating chronic diseases," a spokesman said.

Asked for details, the spokesperson said: "We are evaluating...We are in the process of ascertaining as to what will be the best option for us."

The Japanese pharmaceuticals market is the second largest in the world after the US but the generics segment in the country is estimated to have an annual sales of up to USD 6 billion dollars, less than 8 per cent of the total market.

Only recently, the country had moved towards accepting generics drugs in order to bring down healthcare costs, post the financial meltdown in 2008-09.

The spokesperson said the company will keep all options open, including acquisitions and partnerships, for its Japanese foray.

"It is too early to say anything at the moment, we are at a very preliminary stage of evaluation," he said.

The company, which reported a 244.43 per cent jump in net profit at Rs 564.32 crore for the quarter ended June, remains firmly focused on other overseas markets as well. During the quarter its total income stood at Rs 1,399.7 crore.

For the fiscal 2009-10, it had reported a total income of Rs 4,194.22 crore.
"US, Europe, Brazil, Mexico, Russia, China, South Africa are among our markets of focus," the company said.