Mumbai: Sun Pharmaceutical Industries Limited has entered into an agreement with Zaza Industrial Holdings K.K, Japan, under which Sun Pharma has agreed to sell 100% shares held in Sun Pharma Japan Technical Operations Limited, a step-down subsidiary of the Company (through its subsidiary, Sun Pharma Japan Limited).
Consequently, Sun Pharma Japan Technical Operations Limited shall cease to be a subsidiary of the Company. The expected date of completion of sale/disposal will be January 31, 2025.
Turnover of Sun Pharma Japan Technical Operations Limited is less than 0.5% of Sun Pharma’s consolidated turnover for FY 2023- 24.
“Sun Pharma Japan Technical Operations Limited operates a plant in Saitama, Japan, which manufactures products for Sun Pharma Japan Limited. As part of the sale agreement, the plant is contracted to supply products to Sun Pharma until May 2026,” the Company stated in a BSE filing.
Medical Dialogues team had earlier reported that Sun Pharma Laboratories had got approval from the Subject Expert Committee (SEC) functional under the Central Drug Standard Control Organisation (CDSCO) to conduct an active Post-Marketing Surveillance (PMS) study with Etifoxine Hydrochloride Capsules 50 mg.
Zaza Industrial Holdings K.K., a company incorporated under the laws of Japan whose registered office is at Toranomon Hills Edomizaka Terrace #1101, 9-1, Toranomon 2- chome, Minato-ku, Tokyo, 105-0001, Japan. It does not belong to Promoter or Promoter Group of Sun Pharma.
Sun Pharma is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra. The company manufactures and markets a large basket of pharmaceutical formulations covering a broad spectrum of chronic and acute therapies. It includes generics, branded generics, specialty, complex or difficult-to-make technology-intensive products, over-the-counter (OTC), antiretrovirals (ARVs), Active Pharmaceutical Ingredients (APIs), and Intermediates.
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