Page 143 - CW E-Magazine (30-1-2024)

Pharmaceuticals Pharmaceuticals

EXPANDING FOOTPRINT TAKING CONTROL
Aragen Life Sciences to invest Rs. 2,000-crore Sun Pharma to buy remaining 21.5% in Taro

to expand Hyderabad operations for Rs. 2,892-cr

Aragen Life Sciences, the Hydera- Sun Pharma said it will acquire crease over the initial purchase price strengths and capabilities to better
bad-based contract research and manu- the remaining 21.52% stake in Israel- of $38 per share proposed on May 26, serve the needs of patients and health-
facturing fi rm, has announced plans to based Taro Pharmaceutical Industries 2023. care professionals,” he added.
invest Rs. 2,000-crore over the next for Rs. 2,891.7-crore, allowing it to
fi ve years to expand operations at its consolidate control over Taro. Following the completion of the Taro, with revenue of Rs.
existing site in Mallapur, Hyderabad deal, expected to close in the fi rst half 4,604.2-crore and net profit of Rs.
(Telangana). Sun Pharma currently owns of 2024, Taro will become a wholly- 211-crore in FY23, has a portfolio
78.48% in Taro. In the past, it had owned subsidiary of Sun Pharma and of over 200 products in generic and
The announcement was made post faced resistance from Taro’s minority its shares will no longer be listed on over-the-counter (OTC) catering to
a meeting between Telangana Chief shareholders in its bid to take full the NYSE. derma, neuropsychiatric, cardiovas-
Minister, Mr. Revanth Reddy and control over the company. cular, and anti-inflammatory seg-
Mr. Manni Kantipudi, CEO, Aragen “Hyderabad has emerged as the ture of new molecular entities (NMEs) “Over the years, with Sun Pharma’s ments. Around 90% of sales are from
Life Sciences, on the sidelines of the undisputed national headquarters for and creating world-class infrastructure As per the defi nitive agreement, strategic interventions, Taro has North America.
World Economic Forum, at Davos, CROs and CDMOs like Aragen over for the global life sciences industry. Sun Pharma will pay $43 per share remained a key player in the generic
Switzerland. the years. Hyderabad offers modern It will also contribute signifi cantly to in cash without interest, a 48% pre- dermatology market in a challenging Taro has $1.3-bn in free cash flow
infrastructure, access to the best scientifi c talent development by creating approxi- mium over the closing price of $28.9 environment,” said Mr. Dilip Shanghvi, cash and zero debt. It has operations
The expansion is primarily tar- talent in the country, a strong network mately 1,500 new employment oppor- per share on May 25, 2023, the last Managing Director, Sun Pharma. in the US, Canada and Israel with
geted towards drug discovery, deve- of suppliers, and an ecosystem that tunities in Telangana,” a company press trading day before Sun Pharma fi rst over 1,500 employees. It has manu-
lopment and manufacturing activities allows for innovation in digital techno- note said. submitted its non-binding proposal to “Post completion of the merger, facturing plants in Haifa, Israel;
for global life sciences industry. The logies. We continue to see this indus- Taro. The Mumbai-based drugmaker the combined entity will fi rmly Brampton, Canada; and headquarters
company said the investment cements try grow and fl ourish in Telangana,” Over the years, Aragen has evolved had to sweeten the deal by a 13% in- move forward, leveraging its global and distribution footprint in the US.
Hyderabad’s status as a hub for drug Mr. Kantipudi noted. from a Discovery Chemistry-focused
discovery and development. Hydera- contract research service provider KIDNEY DISEASE DRUG
bad is serving more than 1,000 in- “This investment reiterates Aragen’s to a global scale integrated contract Bayer & Sun Pharma sign marketing pact for
novators globally in their efforts to focus on driving scientifi c innova- research, development and manufactur-
discover and develop new drugs and tion and research excellence in the ing organisation (CRDMO) for small Finerenone brand
devices, it added. discovery, development and manufac- molecules and biologics.

CANCER TREATMENT Mumbai-based Sun Pharmaceutical to Sun Pharma to market and distribute ceuticals Business in South Asia, said,
Sahyadri Hospitals and ImmunoACT to offer advanced Industries and Bayer have signed an a second brand of Finerenone under Finerenone is different from the existing
agreement to market and distribute a the brand name Lyvelsa. Finerenone treatments for CKD in type 2 diabetes
CAR-T cell therapies second brand of Finerenone in India. was fi rst launched by Bayer under the (T2D) patients.
brand name Kerendia in 2022.
Sahyadri Hospitals, one of Maha- or refractory B-cell lymphoma and Outcomes in B-cell cancers, where Finerenone, a patented medicine It acts by selectively blocking mine-
rashtra’s largest hospital chains, has B-acute lymphoblastic leukaemia one or more lines of treatment have is indicated to reduce the risk of sus- “With the introduction of a second ralocorticoid receptor (MR) overacti-
announced a ground-breaking commer- patients aged 15 and above. failed, are generally dismal. Sahyadri’s tained eGFR decline, end-stage kidney brand of Finerenone in India, through vation, which is thought to contribute
cial collaboration with Mumbai-based medical and haemato-oncologists disease, cardiovascular death, non- our partnership with Sun Pharma, we to CKD progression and cardiovascular
start-up, ImmunoACT, to introduce NexCAR19, the fi rst CAR-T therapy intend to deploy NexCAR19 to enhance fatal myocardial infarction, and hos- are advancing Bayer’s commitment damage.
CAR-T cell therapies in Pune. fully developed and manufactured in the standard of care, which currently pitalisation for heart failure in adult of making healthcare accessible to as
India, is now among approximately ten includes chemotherapy, monoclonal anti- patients with chronic kidney disease many patients as possible. Finerenone was approved by the
Equipped with comprehensive such therapies available commercially bodies, and bone marrow transplant. (CKD) associated with type 2 diabetes USFDA in July 2021, granted mar-
haematology treatment centres, Sahyadri worldwide. While similar therapies can NexCAR19 will be initially available mellitus. India has a high incidence of keting authorisation by the European
Hospitals is set to provide access to cost several hundred thousand dollars at Sahyadri’s Deccan Gymkhana centre diabetes and associated renal and cardiac Commission in February 2022, and
NexCAR19 (Actalycabtagene auto- in the US, it is planned to be offered at in Pune, serving patients across western Under the terms of the agreement, conditions,” Ms. Shweta Rai, Country approved in India by the health autho-
leucel) therapy designed to treat relapsed almost one-tenth of this cost. India and beyond. Bayer has granted non-exclusive rights Division Head for Bayer’s Pharma- rity in April 2022.

142 Chemical Weekly January 30, 2024 Chemical Weekly January 30, 2024 143

Contents Index to Advertisers Index to Products Advertised