Divests two units to Frontida BioPharm
Sun Pharma has announced that as a part of its manufacturing consolidation in the US, one of its wholly owned subsidiaries has entered into an agreement with Frontida BioPharm for divestment of its two oral solid dosage manufacturing facilities located at Philadelphia, PA, and Aurora, IL both in the US, along with 15 related pharma products.
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.
The impact of this development on Sun Pharma’s consolidated financials and operations is not material, informed a company release. Other details of the transaction were not divulged.