Sun Pharma buys Valeant's Ohio facility
After having acquired Valeant Pharma's
manufacturing unit in Hungary last month, the Mumbai-based
drug major Sun Pharma has signed an agreement to buy
the company's manufacturing facility at Ohio as well.
The cost of acquisition has not been disclosed in both
cases.The company has been scouting around for an acquisition
in the US and a company official said that the search
is still on, unaltered by the recent acquisition of
Valeant's plant. Sun Pharma was waiting for the right
valuation, the official said. The company had issued
a $350-million FCCB late last year, primarily to support
a major acquisition in the US.
September 16, 2005