Sun Pharmaceutical Industries has joined several pharmaceutical companies in announcing agreements with the US government aimed at prioritising access to affordable medicines for millions of American patients.
Under its agreement, Sun Pharma will extend Most Favoured Nation (MFN) pricing to state Medicaid programmes. The company has also committed to MFN pricing for future innovative medicine launches.
The agreement recognises Sun Pharma’s investments in the US market, including through a provision delaying Section 232 tariffs on innovative pharmaceutical products for more than two years. Further terms of the agreement remain confidential.
“Our mission is to reach people and touch lives by providing quality medicines across a patient’s entire treatment journey, from consumer health products to generics to innovative medicines,” said Sun Pharma North America CEO Rick Ascroft, who represented the company at the White House ceremony.
“The United States is a key area of investment and expansion for Sun Pharma across clinical development, sales and marketing, and both API and finished products manufacturing. We are proud to play our part in delivering the medicines that millions of American patients count on every day,” he added.
Expanding US presence
Sun Pharma initially established its US presence through its high-quality generics business and has subsequently increased its focus on innovative and specialty medicines.
The company ranks second by prescriptions in US dermatology and is expanding its presence across dermatology and immunology, cutaneous oncology and ophthalmology. These businesses complement its consumer health products and generics portfolio.
The US is Sun Pharma’s largest market for innovative medicines and remains a key pillar of its long-term growth strategy. The market contributes approximately 27% of the company’s global revenue.
Sun Pharma’s commitment to the US market was further reinforced earlier this year when it entered into a definitive agreement to acquire Organon & Co at an enterprise value of $11.75 billion.
The proposed acquisition marks another significant step in Sun Pharma’s expansion in the US and reflects its continued investment in American patients, healthcare providers and communities.
The company said it remains focused on expanding access to high-quality and affordable medicines for patients in the US and across global markets.