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news.Sun Pharmaceutical Industries, a specialty pharma company, has announced that its fully owned US subsidiary, Sun Pharmaceutical Industries, Inc has acquired 100% ownership of Chattem Chemicals from Elcat, a producer of fine and specialty chemicals. The terms of the transaction were not disclosed.
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Chattem is registered with the US Drug Enforcement Administration (DEA) as a narcotic raw material importer. This import registration includes four controlled substance products listed in Schedule 2: methamphetamine, phenylacetone, raw opium and concentrate poppy straw. Additionally, it is also licensed by the DEA to manufacture Schedule 1 to 5 controlled substances.
Dilip Shanghvi, Sun Pharma’s chairman and managing director, said: “This acquisition reflects our strategic resolve to be a more active player in the pain management segment in the US.”