Taro to acquire Alchemee from Galderma

Galderma and Taro Pharmaceutical Industries Ltd. (NYSE: TARO) ("Taro") announced today they have signed a definitive agreement for Taro to acquire Alchemee, formerly The Proactiv Company (TPC), from Galderma. The agreement between Galderma and Taro includes Alchemee's business and assets around the world, including the Proactiv® brand.

"We are excited to add Proactiv® to Taro's broad portfolio of prescription and over-thecounter dermatology products. We look forward to welcoming the Alchemee team into Taro and working together to continue to make a difference to the millions of people living with acne around the world. UDAY BALDOTA - CHIEF EXECUTIVE OFFICER, TARO.

Proactiv® has been used and trusted by millions around the world for more than 25 years. Originally set up as a subscription-based business, Proactiv® quickly became a leading U.S. consumer acne brand.

"We are proud of the work we have done together to serve customers suffering from acne around the world through Proactiv®. I am confident that Taro is the right owner to build on Alchemee's strong foundation. Their vision is aligned to Alchemee which comes with an incredible legacy and brand equity, and a great team with a clear plan for future success." FLEMMING ORNSKOV, M.D., MPH - CHIEF EXECUTIVE OFFICER - GALDERMA.

The acquisition is subject to customary closing conditions and any necessary regulatory approvals. Financial terms of the transaction have not been disclosed.

Shares of Sun Pharmaceutical Industries Limited was last trading in BSE at Rs. 846.05 as compared to the previous close of Rs. 842.95. The total number of shares traded during the day was 81912 in over 2504 trades.

The stock hit an intraday high of Rs. 848.45 and intraday low of 825.00. The net turnover during the day was Rs. 68319526.00.

Source : Equity Bulls

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SunPharmaceuticalIndustries INE044A01036 TaroPharma Galderma Acquisition Alchemee