Sun Pharma completes opiates business acquisition in Australia

Sun Pharmaceuticals has completed the acquisition of GSK's opiates manufacturing facilities in Australia. 

The acquisition  was announced in March.

Opiates which comprise of narcotics raw materials are classified as controlled substances and are used to manufacture pain killers.

"Sun Pharma now offers a rich basket of opiates product line in addition to a large active pharmaceutical ingredients portfolio and dosage formulations covering a broad range of chronic and acute prescription drugs. The acquisition also brings a specialised team to drive business growth," the company said in a statement today.

This acquisition fortifies Sun Pharma’s global position with two opiates manufacturing facilities in Port Fairy & Latrobe (both in Australia) complementing its current API manufacturing footprint globally.

Anil Kumar Jain, CEO – API Business, Sun Pharma said, “The successful completion of this acquisition enables us to leverage our unique position in the global opiates business by capitalising our global footprint and global ranking in the specialty generics market.”