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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...
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.
Meghna A Singhania is the founder and Editor-in-Chief at Medical Dialogues. An Economics graduate from Delhi University and a post graduate from London School of Economics and Political Science, her key research interest lies in health economics, and policy making in health and medical sector in the country.She is a member of the Association of Healthcare Journalists. She can be contacted at editorial@medicaldialogues.in. Contact no. 011-43720751