Sun Pharma Successfully Completes Taro Merger

On June 24, 2024, Sun Pharmaceutical Industries Limited announced the successful completion of the merger of Taro Pharmaceutical Industries Ltd (Taro) with its subsidiary. Sun Pharma, which has been the majority shareholder of Taro since 2010, acquired all outstanding ordinary shares of Taro that are not already owned by itself or its affiliates.

Following the merger, Taro has transitioned into a private company wholly owned by Sun Pharma. This strategic consolidation allows Sun Pharma to further integrate Taro’s operations and leverage synergies across its pharmaceutical businesses.

The company stated that the combined entity is better positioned to compete in an increasingly competitive generics industry. With Taro fully integrated into Sun Pharma’s corporate structure, the merger aims to streamline management processes, optimise resources, and unlock greater shareholder value. Sun Pharma continues to focus on expanding its portfolio and reinforcing its position as a leading pharmaceutical company in both domestic and international markets.

Sharing his thoughts on this merger, the Chairman and Managing Director of Sun Pharma, Dilip Shanghvi, said, “We are pleased with the successful completion of the Taro merger process. This milestone marks a significant step forward for both organisations, 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.”

Sun Pharmaceutical Industries recently finalised a non-exclusive patent licensing deal with Takeda Pharmaceutical Company Limited. This agreement enables Sun Pharma to market Vonoprazan tablets 10 mg and 20 mg in India under the brand name “Voltapraz”. Vonoprazan, a novel potassium competitive acid blocker (PCAB), effectively treats conditions such as reflux esophagitis and other acid-peptic disorders. Takeda has granted Sun Pharma the right to commercially distribute Vonoprazan in India as per the terms of this arrangement.

About Sun Pharmaceutical Industries Ltd

Sun Pharmaceutical Industries is a prominent global player in speciality generics, offering a wide range of products in Specialty, Generics, and Consumer Healthcare. With vertically integrated operations, Sun Pharma ensures the production of high-quality medicines trusted by healthcare professionals and consumers in more than 100 countries. The company operates manufacturing facilities across six continents and prides itself on a diverse workforce representing over 50 nationalities.

On June 25, 2024, the share price of Sun Pharmaceutical Industries Ltd opened at ₹1,498.05, touching the day’s high at ₹1,502.25, as of 10:08 AM on the NSE.

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