Combined entity is better positioned to
compete in increasingly competitive generics industry
MUMBAI,
India and PRINCETON,
N.J., June 24, 2024 /PRNewswire/ -- Sun
Pharmaceutical Industries Limited (Reuters: SUN.BO, Bloomberg:
SUNP IN, NSE: SUNPHARMA, BSE: 524715 (together with its
subsidiaries and/or associated companies, "Sun Pharma")) today
announced the successful completion of the merger of Taro
Pharmaceutical Industries Ltd. (NYSE: TARO) ("Taro") with its
subsidiary. As part of this merger, Sun Pharma acquired all
outstanding ordinary shares of Taro other than the shares already
held by Sun Pharma or its affiliates. As a result of the
merger, Taro is now a private company and wholly-owned by Sun
Pharma. Sun Pharma has been the majority shareholder of Taro since
2010.
Dilip Shanghvi, Chairman and
Managing Director of Sun Pharma, said, "We are pleased with the
successful completion of Taro merger process. This milestone marks
a significant step forward for both organizations, allowing us to
effectively leverage each other's strengths and capabilities.
Together, we are excited about starting this new chapter and
creating a more robust, successful future for the combined
entity."
About Sun Pharmaceutical Industries Limited (CIN –
L24230GJ1993PLC019050)
Sun Pharma is the world's leading specialty generics company
with a presence in Specialty, Generics and Consumer Healthcare
products. It is the largest pharmaceutical company in India and is a leading generic company in the
US as well as Global Emerging Markets. Sun Pharma's high growth
Global Specialty portfolio spans innovative products in
dermatology, ophthalmology, and onco-dermatology and accounts for
over 18% of company sales. The company's vertically integrated
operations deliver high-quality medicines, trusted by physicians
and consumers in over 100 countries. Its manufacturing facilities
are spread across six continents. Sun Pharma is proud of its
multi-cultural workforce drawn from over 50 nations. For further
information, please visit www.sunpharma.com and follow us on
LinkedIn & X (Formerly Twitter).
Logo: https://mma.prnewswire.com/media/2320827/Sun_Pharma_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/sun-pharma-completes-taro-merger-302180230.html
SOURCE Sun Pharma