Sun Pharma announces divestment of US manufacturing units
"In connection with the transaction, Frontida has agreed to continue manufacturing certain products for Sun Pharma at these facilities on a contract basis for a predetermined period. It has also agreed to offer employment to all production, quality and administrative personnel at the sites. During the divestment process, Sun Pharma was cognizant about ensuring the continued supply of quality products to patients and protecting the interests of its employees working in these units," read a statement issued by the company.
The impact of this development on Sun Pharma’s consolidated financials and operations is not material.
Other details of the transaction are confidential.
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