Taro Pharma now wholly owned by Sun Pharma
Mumbai: Sun Pharmaceutical Industries Limited today announced the successful completion of the merger of Taro Pharmaceutical Industries Ltd. 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.
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.”
Medical Dialogues team had earlier reported that the Company had declared results from a Phase 1, multiple ascending-dose study evaluating the safety, tolerability, pharmacokinetics, and pharmacodynamics of GL0034 (Utreglutide) in obese adults.
Sun Pharma is a specialty generics company with presence in Specialty, Generics and Consumer Healthcare products. Sun’s high growth Global Specialty portfolio spans products in dermatology, ophthalmology, and onco-dermatology and accounts for over 18% of company sales. Its manufacturing facilities are spread across six continents.
