Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries and Ranbaxy have got approval from the Competition Commission of India (CCI) for sale of seven brands to Emcure Pharma to comply with the fair trade watchdog's conditional nod for their $4-billion merger.

CCI also approved the deal with Emcure, which would purchase the ‘divestment products’ that were ordered to be sold in an earlier direction issued in December last by the Competition Commission of India (CCI).

These seven brands were at the core of the CCI’s contention that the merger between Sun Pharmaceutical Industries and Ranbaxy Laboratories was 'prima-facie' in violation of competition laws and therefore the regulator had ordered divestment of those products under its 'conditional' approval to the deal.

Sun Pharmaceutical Industries is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world.