India’s Sun Pharmaceutical Industries Ltd to Buy Taro Pharmaceutical Industries Ltd. for $454 Million, Shares Up

MUMBAI, May 21 (Reuters) - India’s Sun Pharma said it has agreed to buy Israeli generic drug maker Taro for $454 million to help boost its sales in markets such as the United States, sending its shares up 4.5 percent. Taro Pharmaceutical Industries, which gets 90 percent of its sales from North America, will help widen Sun’s presence in dermatology and pediatrics segments, Sun Chairman and Managing Director Dilip Shanghvi said in a conference call.

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