Sun declines to comment on New Jersey plant sale speculation
India’s CNBC TV 18 speculated that Sun is poised to sell the facility to an unnamed buyer for $100m (€93m) last night citing well placed sources.
The article – entitled "Sun Pharma To Sell Ohm Labs Site? - was rehashed by a number of publications without confirmation from Sun.
The reports prompted the Bombay Stock Exchange to ask Sun for clarification.
In response Sun said it “continues to evaluate its global operational footprint on an ongoing basis. As and when there are material developments, if any, we will make the required disclosures.”
Spokesman Frederick Castro declined to comment when contacted by in-Pharmatechnologist.com.
New Jersey-based Ohm produces solid dosage forms of analgesics, antibiotics, anti-diarrhoeal, laxatives, antacids and cough & cold remedies.
Sun took control of Ohm when it acquired Ranbaxy in 2015.
