Harsh Goenka-promoted RPG Life Sciences has bought seven brands of Sun Pharma at a deal value of Rs 41 crore and is expected to give RPG extra room to expand in the nearly $5 billion domestic market.
Some of these drugs are part of the overlap of products from the Ranbaxy merger and Sun Pharma was in search of a suitable match for these drugs for more than six months and sales had been declining lately. The Rs 250-crore RPG Life Sciences has bought these products that span therapy areas like heart disease, respiratory, anti-diabetes, among others.
"We want to go for high value, low competition products in India, we are looking to increase our sales from Rs 160 crore to Rs 200 crore this year," T Renganathan, Managing Director RPG Life Sciences, told ET.
Source : economictimes.indiatimes.com