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| Sun Pharma managing director Dilip Shanghvi |
India's Sun Pharmaceutical Industries has sold two legacy Ranbaxy Laboratories units to Strides Arcolab as part of a July announcement that it would trim noncore businesses from the portfolio. In a press release, Sun said the units fetched INR1.650 billion ($25 million) for the Ranbaxy's Solus and Solus Care divisions that handle CNS products. Sun is undergoing a major restructuring telegraphed ahead of earnings that saw net profit plunge 60% in the first quarter of its financial year as it absorbed costs from its takeover of Ranbaxy earlier in 2015. Release