Sun Pharma Industries says Canadian unit to acquire Thallion Pharma

Saturday, Mar 18, 2017

Sun Pharmaceutical Industries Ltd Says deal for c$2.3 million.

Taro Pharmaceuticals Inc. (Canada) entered into deal to acquire all issued and outstanding shares of Thallion Pharma.

Consideration would be in cash. Post deal, no turnover expected of existing products as all revenue-producing assets have been transferred from Thallion to Bellus Health.

Post acquisition of Thallion, Taro Pharma would have only rights for development of orphan drug candidate, Shigamab. No material effect of acquisition by Taro Pharmaceuticals (Canada) on consol revenue, expenses or profits of co.