Sun Pharma Acquires U.S.-based Pharmalucence


NEW DELHI: Drug major Sun Pharmaceutical Industries has acquired US-based Pharmalucence Inc for an undisclosed amount.

Pharmalucence, which has sterile injectable capacity in the US, has been acquired by one of the subsidiaries of Sun Pharma, the Mumbai-based firm said in a statement.

The company, however, did not disclose the financial details of the deal.

Earlier this year, Sun Pharma had acquired Ranbaxy Laboratories in an all-stock transaction with a total equity value of $ 3.2 billion along with debt of $ 800 million, taking the overall deal value to $ 4 billion.

Sun Pharma shares were trading at 748.30, up 1.30 percent from its previous close.

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Sun Pharma recalls antidepressant drug from US market

Caraco Pharmaceutical Laboratories, a subsidiary of Sun Pharma, has initiated recall of some lots of Venlafaxine Hydrochloride extended-release tablets from the US market.

According to a notification by the FDA, the recall of 26,530 units of 30-count bottles and 14,597 units of 90-count bottles is voluntarily initiated by the company through a letter to the regulator last month under ‘Class-II’ classification.

According to the US health regulator, Class II recall is a situation in which the use of or exposure to a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote.

Source: PTI