(Bloomberg) -- Sun Pharmaceutical Industries Ltd.,
India's biggest drugmaker, agreed to buy Taro Pharmaceutical
Industries Ltd., an unprofitable producer of generic medicines,
giving it factories and distribution assets in the U.S.
Sun offered $230 million in cash and an extra $224 million
to refinance Taro's debt, the Mumbai-based company said in a
statement today. Taro said March 20 it will report a
``substantial loss'' in 2006, which would put the Haifa, Israel-
based company in breach of conditions on bank loans.
Read more at Bloomberg Emerging Markets News
India's biggest drugmaker, agreed to buy Taro Pharmaceutical
Industries Ltd., an unprofitable producer of generic medicines,
giving it factories and distribution assets in the U.S.
Sun offered $230 million in cash and an extra $224 million
to refinance Taro's debt, the Mumbai-based company said in a
statement today. Taro said March 20 it will report a
``substantial loss'' in 2006, which would put the Haifa, Israel-
based company in breach of conditions on bank loans.
Read more at Bloomberg Emerging Markets News
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