Sun Pharmaceutical Industries has acquired a controlling stake in Taro Pharmaceuticals following a prolonged legal battle.
During regulatory filing, the Indian drug manufacturer announced that it had increased its economic interest in Taro to 48.7%, while voting rights also increased to 65.8%.
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Sun had been embroiled in a legal battle with the Israeli firm since 2008 when a $454m merger deal was unilaterally terminated. Sun eventually took the battle to the Israeli Supreme Court, who decided in favour of the Indian drug major.
Financial details of the acquisition have not been disclosed.
