 "Sun Pharmaceutical gains on divestment of US unit")
Shares of Sun Pharmaceutical Industries was up 1% on the Bombay Stock Exchange after the company announced sale of its US manufacturing unit.
As part of the manufacturing consolidation in the US, one of the wholly-owned subsidiaries has entered into an agreement with Nostrum Laboratories Inc., for the divestment of the Bryan (Ohio) unit in the US, the company said in a release.
As a part of the agreement, the Sun Pharma subsidiary has divested this unit as a going concern along with the employees and related products to Nostrum, the release added.
The stock opened at Rs 777 and touched a high of Rs 781. At 11:30am, over 1.5 million shares were traded on both the stock exchanges.
