/ Sun Pharma Completes Acquisition Of 85.1% Of Jio Biosintez, Stocks Down Marginally ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 21 December 2016

Sun Pharmaceutical Industries Ltd has completed the acquisition of 85.1% of Jio Biosintez, a Russian Pharmaceutical Company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region.

The development comes a day after Sun Pharmaceutical Industries Ltd had informed BSE that one of the company's wholly-owned subsidiaries has voluntarily requested the USFDA to withdraw approval for 28 Abbreviated New Drug Applications (ANDAs). These older drug products belong to erstwhile Ranbaxy Laboratories Ltd. and are not being marketed in the US since 2008.

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