Taro Pharma terminates merger agreement with Sun Pharma

New Delhi, May 28 (UNI) Leading drug maker Sun Pharmaceutical Industries Ltd today said its merger agreement with the US-based generic drug maker Taro Pharma has terminated.

In May 2007, Sun Pharmaceutical had signed definitive agreements to acquire Taro Pharma, in a 454 million dollar all-cash deal including net debt of 224 million dollars.

The completion of the acquisition had been repeatedly delayed.

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