Emily Bader//December 15, 2015//
Nostrum Laboratories Inc., a wholly-owned subsidiary of Nostrum Pharmaceuticals LLC, announced Tuesday that it has acquired certain assets of Sun Pharmaceutical Industries Ltd.Somerset-based Nostrum will acquire Sun Pharma’s liquid and semi-solids manufacturing facility in Bryan, Ohio., related products and its employees, as well as additional products from Sun Pharma’s wholly-owned subsidiaries. The products will be manufactured for Nostrum under a separate agreement.
Other terms of the deal were not disclosed.
“We are pleased to complete this transaction with Sun Pharma and believe this acquisition strengthens our revenue base and ensures that we fulfill our organic growth initiatives,” Nostrum Chairman and CEO Nirmal Mulye said in a prepared statement.
“This transaction is a winning proposition for all parties as Nostrum Labs will continue to grow the Bryan facility through the introduction of new products, thus ensuring the continued employment of the employees at Bryan. Further, Sun Pharma will benefit from the collaboration with Nostrum Labs on product development opportunities in the future,” Kal Sundaram, Sun Pharma CEO for North America, said in a prepared statement.