Sun Pharmaceutical Industries Ltd on Monday said its Michigan-based wholly owned subsidiary, Sun Pharmaceutical Industries Inc, has purchased all the assets of New Jersey-based Able Laboratories Inc.
The company informed the stock exchanges that it had purchased all the assets of the US-based company under an auction conducted by the court at New Jersey.
Sun Pharma's principal activities are to formulate, manufacture and distribute pharmaceuticals and this would be its second asset purchase in the US in the recent past.
In September, the company had bought US-based Valeant Pharma's manufacturing operations in Ohio at an undisclosed price.