Sun Pharma Acquires U.S. API Firm

Sun Pharmaceutical Industries (Mumbai) says it has acquired active pharmaceutical ingredients (API) manufacturer Chattem Chemicals (Chattanooga, TN). Financial terms of the deal were not disclosed. Chattem Chemicals is licensed by the U.S. Drug Enforcement Administration (DEA; Springfield, VA) to manufacture controlled substances. The company has 60 employees at Chattanooga and generated sales of about $26 million for the year ended June 2008. Sun Pharma produces APIs and pharma formulations. The company says the acquisition will provide a U.S. launch pad for its...

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