Sun Pharmaceutical Industries announced the acquisition of Biogenix GmbH, a German specialty biologics company, for EUR 920 million (approximately Rs 8,400 crore), its largest-ever international acquisition. Biogenix has a portfolio of eight marketed biosimilar products and a pipeline of twelve biosimilar and novel biologic candidates, providing Sun Pharma with a strong platform in the rapidly growing global biologics market.
The acquisition significantly enhances Sun Pharma's global specialty business which already includes dermatology, ophthalmology and oncology products. Biogenix's biosimilar products are approved across the European Union and the UK, and the company has regulatory submissions pending in the United States, Canada and Australia. The deal gives Sun Pharma immediate market access in Europe alongside a pipeline that could generate revenues exceeding $1 billion annually by 2030.
The transaction will be funded through a combination of existing cash reserves and external debt, with Sun Pharma maintaining its strong balance sheet. CEO Dilip Shanghvi said the acquisition represents a transformational step in Sun Pharma's strategy to become a global specialty and biologics company beyond its generics roots. The company has earmarked $2 billion for acquisitions and business development over the next three years as it seeks to diversify its revenue mix toward higher-margin specialty and biologic products.
