Sun Pharma to close Detroit manufacturing plant

As a part of its strategy to consolidate its manufacturing activity in the US, Sun Pharmaceutical Industries has decided to close a manufacturing plant in Detroit in the US run by its subsidiary Caraco Pharmaceutical Laboratories. The Company has provided the requisite advance written notice of the facility closure to the employee union and all affected employees. The Company has ensured that the impacted employees get compensated with more than their regular entitlement under the severance package. They will also receive other support services including outplacement assistance. The rest of the employees are continuing through mutually consented arrangements. The Company has undertaken necessary measures to ensure business continuity of the products being manufactured at this facility. The manufacturing of these products is being transferred to other unitsand all necessary steps have been taken to avoid market shortage.  Sun Pharma expects a negligible impact of this development on its FY15 consolidated revenues. Sun Pharmaceutical Industries is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world.