Last year, Sun Pharma acquired Ranbaxy Laboratories in an all-stock transaction totalling equity value of $3.2bn.
However, earlier this year Sun Pharma said as a part of the Ranbaxy integration process, it expects to incur certain integration charges in order to generate long-term synergies from this merger.
The company said it may discontinue certain non-strategic businesses as part of the integration process.
In its latest deal with Strides Arcolab, Sun Pharma agreed to transfer Solus and Solus Care divisions of erstwhile Ranbaxy along with employees.
The two divisions have been accounting for a revenue of Rs.92 crore. The transaction is subject to approval from the Competition Commission of India and other customary closing conditions.
Sun Pharma India Business CEO Abhay Gandhi said: "The agreement with Strides is part of our strategy to firmly consolidate our CNS business in India."
Strides Arcolab president of brands in India Subroto Banerjee said: "The acquisition of Solus and Solus Care divisions is of strategic significance to the growth of our branded business in India.
"The rich product portfolio and capable teams of these two divisions will help us establish a strong footing in the fast growing CNS market of India."
Strides Arcolab develops and manufactures IP-led niche generics and bio-pharmaceuticals. The company has eight manufacturing facilities and operates in over 75 countries.
Sun Pharma has 48 manufacturing facilities spread across 5 continents, R&D centers across the globe.
Image: Sun Pharma corporate office. Photo: courtesy of Sun Pharmaceutical Industries Ltd.