India's most valued drugmaker, Sun Pharmaceutical Industries is now planning to acquire the generic drugs business of US-based URL Pharma.

Sun Pharmaceutical will acquire the control of the business unit form Japan's Takeda Pharmaceutical and will be the second acquisition for the Indian company in the US within two months. Sun had recently agreed to buy skin treatment firm Dusa Pharmaceuticals for US$ 230 million.

Sun Pharmaceutical did not announce the financial details for the deal to acquire URL Pharma's unit and added that the deal is subject to the regulatory approvals. If the deal is finalized, Sun Pharma's US subsidiary Caraco Pharmaceutical Laboratories will control and manage URL Pharma's generic assets other than Colchicine drug.

Japanese firm, Takeda had acquired URL Pharma for $800 million in June previous year with a provision for additional payment depending upon the performance of the company. URL Pharma has 288 ANDA or abbreviated new drug application approvals for selling generci drugs and an FDA approved plant in Philadelphia.

Sun Pharmaceutical Industries is valued at US $13.72 billion and its shares were trading 2.3 percent higher at Rs. 738 today in Bombay Stock Market (BSE).