Sun Pharma acquires US-based Chattem Chemicals

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Mumbai, Nov 26 (UNI) Sun Pharmaceutical has acquired US-based drug ingredients manufacturer Chattem Chemicals for an undisclosed amount.

The American subsidiary of Sun Pharma has bought Chattem Chemicals from Elcat Inc, the company informed to the Bombay Stock Exchange.

However, the financial details of the transaction were kept undisclosed. The acquisition is subject to clearance from regulatory authorities, the company release said.

''This acquisition reflects our strategic resolve to be a more active player in the pain management segment in the US,'' Sun Pharma Chairman and MD Dilip Sanghvi said.

Chattem is a registered narcotic raw material importer with the US Drug Enforcement Administration and manufactures a variety of active pharmaceutical ingredients.

The firm has an estimated sale of USD 26 million in the year to June 2008, the release added.

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