The Sun Pharma is all set to buy Israel-drug maker Taro. The US Federal Trade Commission (FTC) has given its approval for the deal on certain conditions. The Mumbai-based drug maker Sun has to sell rights and assets of its anti-epilepsy drugs. Carbamazepine is a major anti-epilepsy brand prepared buy sun group. The Sun Pharma is ready to sell three distinct generic formulations to Torrent Pharmaceutical Ltd. Torrent Pharmaceutical Ltd is a major drug maker of Gujrat.

Federal Trade Commission (FTC) note elaborates that the transaction would be less-competitive and US customers can get drugs on low prices in some cases. The overall detail of financial detail is not available for the time being. Sun Pharma is ready to divest carbamazepine tablets, chewable carbamazepine tablets and extended-release carbamazepine tablets.

Carbamazepine is an effective anti-epilepsy product and required to take daily either alone or with combination of other drugs. The Director of the FTC’s Bureau of Competition, Mr Jeffrey Schmidt said that the current deal would stop the direct competitions between the two companies.  

It takes almost a year to conclude the deal by both companies. Earlier, Sun Pharma had unilaterally terminated its $454-million acquisition proposal in May. Both companies had also fight legal battle in the courts of Israel and New York. Sun Pharma is the largest shareholder in Taro. It has 34.4 per cent stakes in the firm.

The open offer started on June 30 and expected to close on September 2 this year. The shares of Sun were traded down at Rs 1,447.70 on the BSE.