We are advising Sun Pharma on the transaction

Davis Polk is advising Sun Pharmaceutical Industries Limited (Sun Pharma) on its acquisition of all outstanding ordinary shares of Taro Pharmaceutical Industries Ltd. not already held by Sun Pharma or its affiliates for $43.00 per share in cash without interest. The transaction is subject to various closing conditions and is currently expected to close in the first half of 2024. Upon completion of the acquisition, Taro will become a privately held company and its shares will no longer be listed on the NYSE.

Headquartered in Goregaon, Mumbai, India, Sun Pharma is the world’s fourth largest specialty generics company with a presence in specialty, generics and consumer healthcare products. It is the largest pharmaceutical company in India and is a leading generic company in the United States as well as global emerging markets. 

Based in Hawthorne, New York, Taro is a multinational, science-based pharmaceutical company dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products. 

The Davis Polk corporate team includes partner Michael Davis and associates Joshua B. Pittell and Lily Zhou. Partner William A. Curran is providing tax advice. Partner Veronica M. Wissel is providing executive compensation advice. All members of the Davis Polk team are based in the New York office.