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Sun Pharma to sell manufacturing unit in Ireland

Sun Pharma to sell manufacturing unit in Ireland

Sun Pharma is planning to sell its manufacturing facility in Ireland which it has acquired from Ranbaxy earlier. Sun Pharma had completed the USD 4 billion acquisition of Ranbaxy in March, almost a year after announcing the deal.

Citing reasons for rationalizing the company’s manufacturing operations; the Managing Director Dilip Sanghvi has earlier said that disinvestment will be initiated.

“…decisions are being made to either close or divest some of our manufacturing facilities. Currently, the Ireland facility has been identified for divestment,” Sun Pharma spokesperson said in an e-mailed response.

The spokesperson did not comment on details such as the prospective buyer or valuation of the plant.

“In March this year, Sun Pharma successfully completed the merger of Ranbaxy. This has provided an opportunity to optimise overall manufacturing network in terms of capacity, costs and efficiencies,” the spokesperson added.

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    Source: PTI

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