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Sun, Phlox Merger Gets Approval

April 6, 2005

Shareholders of the Vadodara-based Sun Pharmaceutical Industries (Sun Pharma) have approved the scheme of amalgamation of Phlox Pharmaceuticals with Sun Pharma on Monday. This paves the way for Sun Pharma formally acquiring assets of Phlox Pharma, as the Gujarat High Court had asked shareholders of Sun to approve the scheme of amalgamation. An official of Sun Pharmaceuticals Industries said that the unit of Phlox Pharma will be used to manufacture formulations — both tablets and injections — for the regulated markets. The plant is presently being run by Sun Pharma.
Business Standard