Nostrum Laboratories, a wholly-owned subsidiary of Nostrum Pharmaceuticals, LLC and a fully-integrated specialty pharmaceutical company principally engaged in the development and commercialization of highly specialized, difficult to formulate, controlled release generic and branded drugs, has acquired certain assets from a wholly-owned subsidiary of Sun Pharmaceutical Industries Ltd., including its liquids and semi-solids manufacturing facility in Bryan, Ohio, related products and the unit's employees. Nostrum also acquired additional products from Sun Pharma's wholly-owned subsidiaries, which products will be manufactured for Nostrum under separate agreement. Sun Pharma will transition all sales and marketing responsibilities for the aforementioned products to Nostrum. Terms of the transaction were not disclosed.
In connection with the transaction, Nostrum purchased the facility in Bryan where Nostrum will manufacture the related products which it acquired from Sun Pharma and plans to develop and commercialize products there in conjunction with its manufacturing facilities inKansas City, Missouri and its affiliate's research and development center in Mumbai, India.
Commenting on the asset purchase Nostrum Chairman and CEO Nirmal Mulye, Ph.D. said "We are pleased to complete this transaction with Sun Pharma and believe this acquisition strengthens our revenue base and ensures that we fulfill our organic growth initiatives."
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