Caraco Pharmaceutical Laboratories announced on 22 February 2011 that it had entered into a merger agreement with generics manufacturer Sun Pharmaceutical Industries and its wholly-owned subsidiary Sun Pharma Global.
Caraco and Sun to merge
Home/Pharma News
|
Posted 01/04/2011
0
Post your comment
US-based Caraco develops markets and distributes generic pharmaceuticals to the USA’s largest wholesalers, distributors, drugstore chains and managed care providers.
India’s Sun Pharma and Sun Global collectively own 75.8% of Caraco common stock.
The merger agreement provides that all shareholders of Caraco other than Sun Pharma and Sun Global will receive a cash payment of US$5.25 per share upon the closing of the transaction, rather than the US$4.75 initially proposed by Sun in December 2010.
The news comes despite Caraco being warned by the FDA back in September 2010 for violating manufacturing practices at its Cranbury facility in New Jersey, causing the FDA to withhold approval of pending new drug applications.
Related article
More drug recalls due to poor manufacturing
Source: Caraco
Guidelines
Advances in EMA plans to streamline biosimilar assessment
FDA issues guidance on AI use in drug and biologicals regulatory decision making
Policies & Legislation
ANVISA and Danish Medicines Agency renew health regulatory collaboration
Colombia and Brazil introduce reforms to enhance healthcare regulation
Related content
Colombia boosts health sovereignty through public-private biotech collaboration agreement
Home/Pharma News Posted 07/04/2025
Bio-Thera partners with Tabuk in Saudi Arabia and SteinCares in LATAM
Home/Pharma News Posted 18/02/2025
Klinge-Teva and MS Pharma agreements for Eylea and Stelara biosimilars in Europe and MENA
Home/Pharma News Posted 06/02/2025
Most viewed articles
The best selling biotechnology drugs of 2008: the next biosimilars targets
Post your comment