The most valuable pharma company in the Indian market, Sun Pharma has recently announced that the company has recently bagged the control of the Israel based pharma company, Taro.

It is to be mentioned that the company has won a three year bitter battle by closing the deal. It may be noted here that Sun Pharma has been working for a very long time on its strategy to buy niche pharma companies.

According to the deal announced by the company, it now has close to 48.7% holding and 65.8% voting rights in Taro.

Moreover, Dilip Sanghvi, the Chairman of Sun Pharma has also been appointed as the Chairman of Taro. For the investors, the news came in as a boon as the share price of the company moved northward and touched its record high of Rs. 1,984.7 before closing on the Rs. 1921.40 mark.

According to the statement issued by the Chairman of the company, it wants to build the presence of Taro in regions like US, Israel and Canada. Moreover, the company also said that it will be focusing on categories like dermatology and paediatrics, along with specialty and generic pharmaceuticals.