Taro Pharmaceutical and Sun Pharma have mutually agreed to terminate their merger agreement, announced in August 2012, reports CNBC-TV18's Archana Shukla.
The Sun Pharma stock rallied 3% today after the drug-maker offered to acquire 100% in the Israeli drug-firm Taro Pharma in which it has 66% stake. While the move got a thumbs-up from analysts, some of Taro’s large shareholders may play spoilsport, reports CNBC-TV18's Archana Shukla.