India’s leading drug firm Sun Pharmaceutical Industries Ltd has announced that it’s wholly owned US arm has bought 100 percent ownership of Chattem Chemicals, Inc. (Chattem) from Elcat, Inc, the domestic drug firm.

The conglomerate did not reveal the financial transaction of the acquisition.

According to the sources, US based Chattem is a leading narcotic raw material importer and producer.

The sources further disclosed that Chattem, who operates a manufacturing facility at Tennessee, has hired a team of 60 people and participates in making variety of active pharmaceutical Ingredients (APIs) with a focus on controlled substances.

While lecturing on the acquisition, Mr. Dilip Sandhavi, Chairman and MD of Sun Pharma stated, “This acquisition reflects our strategic resolve to be a more active player in the pain management segment in the US.”

According to the reports, the proposed acquisition is Sun Pharma's third acquisition of a controlled substance business.

The reports further revealed that, in fiscal 2005, the conglomerate had bought a facility in Hungary that manufactures controlled substance active pharmaceutical ingredients (APIs). The same year it had acquired a manufacturing site in New Jersey.