Sun Pharmaceutical Industries will buy GSK’s Opiates business in Australia. GlaxoSmithKline (GSK) and Sun Pharmaceutical Industries have announced that their respective wholly owned subsidiaries have reached an agreement related to GSK’s Opiates business in Australia. The current GSK Opiates business including related manufacturing sites in Latrobe (Tasmania) and Port Fairy (Victoria) and its portfolio of opiates products along with inventory will transfer to a subsidiary of Sun Pharma.
The product portfolio consists of poppy-derived opiate raw materials that are primarily used in the manufacture of analgesics for the treatment of moderate to severe pain. All employees from both sites will also be offered employment by Sun with the Opiates business.
The transaction will allow GSK to simplify its operations in Australia and allow it to focus on delivering its innovative product portfolio that will be central to the company’s growth strategy in this country.
Sun Pharmaceutical Industries is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world.
Sun Pharmaceutical Industries is currently trading at Rs. 999.00, up by 56.60 points or 6.01% from its previous closing of Rs. 942.40 on the BSE.
The product portfolio consists of poppy-derived opiate raw materials that are primarily used in the manufacture of analgesics for the treatment of moderate to severe pain. All employees from both sites will also be offered employment by Sun with the Opiates business.
The transaction will allow GSK to simplify its operations in Australia and allow it to focus on delivering its innovative product portfolio that will be central to the company’s growth strategy in this country.
Sun Pharmaceutical Industries is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world.
Sun Pharmaceutical Industries is currently trading at Rs. 999.00, up by 56.60 points or 6.01% from its previous closing of Rs. 942.40 on the BSE.
No comments:
Post a Comment