Sun Pharma to Buy GSK’s Australian Opiates BusinessBy
Sun Pharmaceutical Industries has agreed to buy GlaxoSmithKline’s (GSK) opiates business in Australia. The current GSK opiates business includes related manufacturing sites in Latrobe (Tasmania) and Port Fairy (Victoria) and GKS’s portfolio of opiates products along with inventory. All employees from both sites will also be offered employment by Sun with the opiates business
The product portfolio consists of poppy-derived opiate raw materials that are primarily used in the manufacture of analgesics for the treatment of moderate to severe pain.
The transaction closure is subject to customary closing conditions and requisite regulatory and other approvals, and is expected to close by August 2015.
Source: Sun Pharmaceutical