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India’s Sun Pharma Estimates Taro Buyout At $21.3 Million

This article was originally published in PharmAsia News

Executive Summary

Sun Pharmaceutical Industries of India now estimates its offer to buy all of Israel's Taro Pharmaceuticals will cost it about $21.3 million. The Indian drug maker has been trying to buy the Israeli firm ever since the companies had a falling out over a merger agreement just over two years ago. Each sued the other and Sun, which already owned 36 percent of Taro, has extended its open offer 10 times. Sun now is awaiting a decision by Israel's Supreme Court over the matter. Sun Chairman Dilip Shanghvi estimated the latest cost of the takeover. (Click here for more

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