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Sun Clears FTC Hurdle For Taro Acquisition; Sells Carbamezapine To Fellow Indian Co. Torrent

This article was originally published in PharmAsia News

Executive Summary

MUMBAI - Sun Pharma moved one step closer to its plan of wresting control of Israeli drug maker Taro Pharmaceutical after the U.S. Federal Trade Commission granted an early termination of the anti-trust waiting period for Sun's tender offer to acquire shares of Taro Pharmaceutical

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MUMBAI - Sun Pharmaceutical has extended the last date of its tender offer for purchase of outstanding ordinary shares of Taro to Oct. 3, from the previously fixed date of Sept. 3. Sun had to extend the last date to comply with an order by the Supreme Court of Israel temporarily prohibiting the closing of the offer. The tender offer will be valid until the new date unless further extended or earlier terminated

Israeli Supreme Court Directs Sun Pharma To Extend Tender Offer Deadline For Taro

MUMBAI - Sun Pharmaceutical has extended the last date of its tender offer for purchase of outstanding ordinary shares of Taro to Oct. 3, from the previously fixed date of Sept. 3. Sun had to extend the last date to comply with an order by the Supreme Court of Israel temporarily prohibiting the closing of the offer. The tender offer will be valid until the new date unless further extended or earlier terminated

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