Drug major Sun Pharmaceutical Industries today said its arm Caraco Pharma will buy Japanese drug maker Takeda Pharmaceuticals' US-based generics subsidiary URL Pharma.
Caraco Pharmaceutical Laboratories has entered into a definitive agreement with Takeda Pharmaceuticals US Inc, a wholly-owned subsidiary of Takeda Pharmaceutical Co to buy the URL Pharma Inc's generic business, Sun Pharmaceutical Industries said in a statement.
It, however, remained silent on the financial details of the deal.
"Upon completion of the purchase, the non-Colcrys (colchicine, USP) generic assets of URL Pharma will be owned and managed by Caraco," it added.
The deal is subject to satisfaction of customary closing conditions, including applicable regulatory approvals, Sun Pharma said.
URL Pharma is a former privately-held Philadelphia-based pharmaceutical company acquired by Takeda America Holdings, Inc in June, 2012.
Shares of Sun Pharmaceutical Industries today closed at Rs 720 apiece on the BSE, up 0.47 per cent from their previous close.