Indoco Remedies has approved the transfer of the company’s ophthalmic business in the territories of India and agreed territories in Africa on terms and conditions detailed in  Agreement to Transfer Business (ATB) to Sunways (India).

For Sunways (India), the proposed transaction is expected to strengthen its ophthalmology platform by adding an established operating business and complementing its existing product portfolio and manufacturing capabilities.

Commenting on this development, Aditi Panandikar, Managing Director, Indoco Remedies, said, “This divestment is an important step in sharpening our focus on core therapeutic areas with stronger potential. We are confident that Sunways will further build on the strengths of the ophthalmic division, leveraging its core competencies across markets. At Indoco, we will continue to invest in innovation, quality and operational excellence, creating long-term value for our stakeholders and the communities we serve.”

Sunways (India) is the flagship company of the Sunways group and manufactures and markets a range of formulations in the niche market of ophthalmology and ENT. It manufactures a wide range of sterile ophthalmic and ENT products and operates within a broader group platform that also includes manufacturing capability for oral medications and sterile preparations.

Commenting on the transaction, Bhadresh Shroff, Director, Sunways (India), said, “This transaction is aligned with our strategy of strengthening our ophthalmology business through the acquisition of an established operating portfolio. We believe the transferred business offers a strong strategic fit with our existing platform and capabilities, and we look forward to ensuring a smooth transition and continuity for customers, products and other stakeholders.”