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Sun Pharma to buy Israel’s Taro Pharma

May 21, 2007

Sun Pharmaceutical Industries has signed definitive agreements to acquire Israel’s Taro Pharmaceutical Industries, for an all-cash deal of $454 million. The acquisition will be funded through internal accruals and proceeds from its earlier $350 million FCCB.

Taro Pharmaceutical is a multinational generic manufacturer with established subsidiaries, manufacturing and products across the U.S., Israel, Canada. North America represents more than 90% of Taro’s sates.

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