Sun Pharma acquires Uractiv portfolio in Romania

ROMANIA – S C Terapia, a subsidiary of Sun Pharmaceuticals, has announced the acquisition of Fiterman Pharma’s Uractiv portfolio in Romania.

According to the company, the financial terms of the transaction are private. The portfolio includes food supplements such as minerals, vitamins, and adjuvants, as well as cosmetics and medical devices for urinary tract health.

As of February 2022, the product line, which was founded a decade ago, has 12 stock keeping units (SKU) and an annualized revenue of approximately US$8.7 million. The products cater to both adults and children, Sun Pharma said in a statement.

“We are excited to add Uractiv to our consumer healthcare portfolio in Romania. This acquisition is in line with our strategy to further expand our non-prescription product basket in Romania and neighboring markets,” said Aalok Shanghvi, EVP and head generic R&D, Generic Global BD and Emerging Markets, Sun Pharma.

Meanwhile, Sun Pharmaceutical Industries has announced that its consolidated net loss for the fourth quarter ended March 2022 was Rs 2,277 crore (US$293.1 million), owing primarily to a one-time exceptional loss.

In the January-March 2020-21 fiscal year, the Mumbai-based pharmaceutical company reported a net profit of Rs 894 crore (US$115 million)

In the fourth quarter, consolidated sales from operations were Rs 9,386 crore (US$1.2 billion). In the previous fiscal year, the company reported sales from operations of Rs 8,464 crore (US$1.09 billion).

The company reported a one-time cost of Rs 56.35 crore (US$7.25 million) for restructuring operations in certain countries during the period under review.

During the fourth quarter, the total loss cited as an exceptional item was Rs 3,936 crore (US$506.5 million).

The company reported a consolidated net profit of Rs 3,273 crore (US$421.3 million) for the fiscal year ended March 2022. In FY21, the figure was Rs 2,904 crore (US$373.8 million).

In the previous fiscal year, revenue from operations was Rs 38,426 crore (US$4.9 billion). In 2020-21, it was Rs 33,233 crore (US$4.3 billion).

During the quarter and year ended March 2022, the company announced the acquisition of Alchemee, formerly The Proactiv Company (TPC), from Galderma by its unit Taro Pharmaceutical Industries.

The company said its board has proposed a final dividend of Rs 3 (US$0.04) per share for FY22. This is in addition to the interim dividend of Rs 7 (US$ 0.09) per share paid in FY22, taking the total dividend for FY22 to Rs 10 (US$0.13) per share compared to Rs 7.5 (US$ 0.097) per share for FY21

The company’s board also approved the re-appointment of Dilip Shanghvi as the Managing Director for a further term of five years with effect from April 1, 2023, up to March 31, 2028, subject to the approval of the shareholders.

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