Sun Set to Acquire Full Control of MJ Pharma

The Vadodara based specialty drug manufacturer Sun Pharmaceutical Industries Ltd has decided to merge the pharmaceutical business of MJ Pharmaceuticals Ltd based at Halol near Vadodara, into itself. Sun has not divulged the financial details of the deal. A Sun Pharma company spokesperson said, "The decision has been taken to take over the remaining part of MJ Pharma and to transfer the ownership of plant and machinery to Sun Pharma. Since the year 2000, Sun Pharma owns 100 per cent stake in MJ Pharma's land and buildings. The latest move will enable the company to take control of MJ Pharma's manufacturing plant and machinery also."
Business Pharma