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ARTICLE · 31 JULY 2019

M&A Lab: Sun Pharma - Taro Pharma Dissection

Nishith Desai Associates
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This is one scuffle which has rocked the two crown establishments in pharma space and has taken them through a roller coaster ride. The battalion

IndiaCorporate/Commercial Law
Abir Roy
Abir Roy
Sambhav Ranka
Sambhav Ranka
Nishchal Joshipura
Nishchal Joshipura
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ABSTRACT

This is one scuffle which has rocked the two crown establishments in pharma space and has taken them through a roller coaster ride. The battalion of group companies for one of India's leading drug maker Sun Pharmaceutical Industries Limited would have swiftly expanded to include another gigantic drug making company of Israel, Taro Pharmaceutical Industries Limited. At the outset of entering into a concord for a friendly merger between Sun Pharmaceutical Industries Limited (India) and Taro Pharmaceuticals Industries Limited (Israel) (the proposed transaction), none of the parties would have contemplated that they would end up battling in courts or trying to settle the disputes through mediation. Manifestly, what was supposed to be the second largest outbound acquisition by an Indian company in the pharma space is now into disputed waters.

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