Sun Pharmaceutical Industries said on Monday it will acquire Israel-based Taro Pharmaceutical Industries Ltd, a multinational generic manufacturer, in an all cash deal for $454 million.
This is a good opportunity for Sun and Taro to work together to create increasing value and add a complimentary multinational organisation to Sun's business," Sun Pharmaceutical Chairman and Managing Director Dilip Shanghvi said.
Sun Pharmaceutical would fund this $454 million acquisition with internal accruals and proceeds from its earlier $350 million foreign currency convertible bonds issue, Sun Pharmaceutical said in a filing to BSE.
Monday, May 21, 2007
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