Sun Pharma joined several pharmaceutical companies at a White House ceremony on Tuesday (September 1) to announce agreements with the US government for improving 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 and apply MFN pricing to future innovative medicine launches.
The agreement also recognises Sun Pharma’s investments in the US market by delaying Section 232 tariffs on innovative pharmaceutical products for more than two years. Other 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 Rick Ascroft, North America CEO, Sun Pharma, who represented the company at the White House.
“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.
Sun Pharma initially established its US presence through its generics business and has increasingly expanded into innovative and speciality medicines. The company continues to expand across dermatology and immunology, cutaneous oncology and ophthalmology, alongside its consumer health products and generics business.
The US is Sun Pharma’s largest market for innovative medicines and remains a key pillar of its long-term growth strategy, accounting for approximately 27% of the company’s global revenue.
The company further strengthened its commitment to the US market earlier this year through a definitive agreement to acquire Organon & Co. at an enterprise value of $11.75 billion.
