Sun Pharmaceutical sells step-down subsidiary
2nd Sep 2021

Sun Pharmaceutical Industries has sold Kayaku Co., a wholly-owned subsidiary of Sun Pharma Japan, a step-down subsidiary of the company. Sun Pharma Japan sold its entire shareholding in Kayaku Co. to Shinshin Pharmaceutical Co. (buyer) on September 1, 2021 for a total consideration of JPY 353,983,400. Thus Kayaku Co. has ceased to be the subsidiary of the company with effect from September 1, 2021.

The subsidiary company, Kayaku Co. whose entire shareholding is sold to the buyer comprised a factory at Tokorozawa and its related assets and liabilities. It is engaged in the business of manufacturing pharmaceutical products for external pharmaceutical companies. The other business of Kayaku Co. comprising the Saitama Factory and products manufactured thereat were carved out of Kayaku Co. with effect from September 1, 2021 and transferred to Sun Pharma Japan Technical Operations, a new subsidiary of Sun Pharma Japan set up for the purpose.

Sun Pharma is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.