Content about Sun Pharmaceutical Industries

NEW YORK — India-based Sun Pharmaceutical Industries may buy Sweden-based Meda for $5 billion to $6 billion, according to published reports.

Reuters reported that the two companies were in talks for Sun to buy Meda in order to boost its generics business in developed markets.

 HAWTHORNE, N.Y. - Israeli drug maker Taro Pharmaceutical Industries and Indian drug maker Sun Pharmaceutical Industries have terminated their merger agreement, the companies said in a joint statement Friday.

Little explanation for the decision to halt the deal was given, except that terminating the agreement was "in the best interest of the respective companies and shareholders." Taro shareholders would have received $39.50 per share upon the closing of the deal.

MUMBAI, India — The Food and Drug Administration has determined that generic drug maker Caraco is in compliance with relevant paragraphs of the consent decree and may resume operations at its manufacturing facility and packaging sites in Detriot and Wixom, Mich., Caraco's parent company Sun Pharmaceutical Industries said.

During their inspection, the FDA reviewed the certification reports for heart failure treatment Carvedilol USP, as well as antibiotic Paramomycin USP, and determined Caraco may resume production of only these two drugs.

HAWTHORNE, N.Y. — Israeli drug maker Taro Pharmaceutical Industries has rejected India-based Sun Pharmaceutical Industries' takeover bid, Taro said Thursday.

Taro said its board of directors unanimously voted to reject a $24.50-per-share offer Sun made on Oct. 18, 2011. Taro began listing its shares on the New York Stock Exchange in March.

Sun has sought to buy Taro since 2007.

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SILVER SPRING, Md. — The number of new drug shortages has been halved as early notifications from manufacturers of potential shortages have increased sixfold, the commissioner of the Food and Drug Administration wrote Thursday.

MUMBAI, India — A division of Pfizer is asserting that it incurred nearly $1 billion in damages related to the launch of generic versions of one of its drugs.

In a lawsuit filed in the U.S. District Court for the District of New Jersey against Sun Pharmaceutical Industries and Teva Pharmaceutical Industries, Wyeth Pharmaceuticals said it estimated that it suffered damages of $960 million from Sun's and Teva's launches of generic versions of the gastroesophageal reflux disease drug Protonix (pantoprazole).

MUMBAI, India — The Food and Drug Administration has approved a generic painkiller made by Sun Pharmaceutical Industries, Sun said.

Sun announced the approval of tramadol hydrochloride extended-release tablets, a generic version of Valeant International's Ultram ER. The drug is used to treat moderate to moderately severe chronic pain in adults who need constant treatment for an extended period of time.

Various versions of the drug have annual sales of $125 million, according to Sun.

MUMBAI, India — Sun Pharmaceutical Industries last month said that it has resolved issues cited in a warning letter sent to the company by the Food and Drug Administration pertaining to one of Sun Pharma's U.S.-based manufacturing facilities.

DETROIT — Generic drug maker Caraco Pharmaceutical Industries will merge with Sun Pharmaceutical Industries, Caraco said Tuesday.

Sun, which already owns 75.8% of Caraco, will pay $5.25 per share for the remaining shares of Caraco that it doesn’t already own and make Caraco a private company.

Sun originally made the going private offer in December, offering $4.75 per share for Caraco.

MUMBAI, India — A generic drug maker announced that the Food and Drug Administration has granted tentative approval for its version of a popular antidepressant.

Sun Pharmaceutical Industries said the FDA approved its duloxetine hydrochloride delayed-release capsules in 20-mg, 30-mg and 60-mg strengths. The capsules are a generic version of Eli Lilly's Cymbalta, which is indicated to treat major depressive disorder, generalized anxiety disorder, diabetic peripheral neuropathic pain, fibromyalgia and chronic musculoskeletal pain.

MUMBAI, India The Food and Drug Administration has approved a generic version of a drug for a devastating muscular disorder.

Sun Pharmaceutical Industries announced Tuesday the approval of riluzole hydrochloride in the 50-mg strength. The tablets are used to treat amyotrophic lateral sclerosis or ALS, also known as Lou Gehrig’s disease.

The drug is a generic version of Sanofi-Aventis’ Rilutek, which has sales of around $50 million, according to Sun.

MUMBAI, India A generic drug maker has received regulatory approval for its version of an attention deficit hyperactivity disorder treatment.

Sun Pharmaceutical Industries' subsidiary has received approval to market its generic version of Strattera (atomoxetine hydrochloride capsules), an ADHD drug for children ages 6 years and older, as well as teens and adults. Strattera is made and marketed by Eli Lilly.

Annual sales of branded and generic atomoxetine hydrochloride capsules are estimated to be more than $530 million.