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).
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