Sun buys pharma biz of MJ Pharma

The board of directors of Sun Pharmaceutical Industries, which met today, approved a proposal to acquire the pharmaceutical business of M J Pharmaceuticals.

According to a release issued by Sun Pharma to the BSE today, the company will acquire the manufacturing unit at Halol, Gujarat along with all its assets and liabilities pertaining to the pharmaceutical business on a going-concern basis with effect from March 31, 2005.