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.
![Sun Pharma Logo Sun Pharma Logo](https://mma.prnewswire.com/media/2320827/Sun_Pharma_Logo.jpg)
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