Sun Pharma Divests Two US Manufacturing Units To Frontida BioPharm

(RTTNews) - As a part of its manufacturing consolidation in the US, Sun Pharma announced that it has entered into an agreement with Frontida BioPharm, Inc. for sale of its two oral solid dosage manufacturing facilities located at Philadelphia, PA, and Aurora, IL, along with 15 related pharmaceutical products.

Indian pharmaceutical company Sun Pharma noted that the impact of this development on its consolidated financials and operations is not material. Other details of the transaction are confidential.

In connection with the transaction, Frontida has agreed to continue manufacturing certain products for Sun Pharma at these facilities on a contract basis for a predetermined period.

Frontida also agreed to offer employment to all production, quality and administrative personnel at the sites.