Sun Pharmaceuticals is able to proceed with its proposed takeover of Taro, following approval from Israel’s high court.

Following the decision, the India-based pharmaceutical firm can now raise its stake in Taro to 48%, a move which could cost them $37m, according

Sun Pharmaceuticals, responsible for the manufacture of both generic and brand name medications, can now enforce an agreement from 2007 requiring Taro’s controlling shareholders to sell their stock.